Construction companies YIT and Lemminkäinen announced the merger
Julkaistu 19 heinäkuu 2017
New construction concern YIT will appear in November of 2017 in Finland. It is formed in result of merger of YIT and Lemminkäinen companies. The turnover of each company in 2016 amounted to 1.7 billion euros. Shares of the new concern will be distributed as follows: 60 percent will be held by shareholders of YIT, shareholders of Lemminkäinen will have 40%.
According to analysts of the companies, the merger will make profit of about 40 million euros annually. The new concern plans to become the leading company in the construction market of the Northern Europe. The Board of Directors will include four members from each company, Kari Kauniskangas (YIT) will head the group, and Ilkka Salonen (Lemminkäinen) will become the financial director.
Source:http://fontanka.fi
According to analysts of the companies, the merger will make profit of about 40 million euros annually. The new concern plans to become the leading company in the construction market of the Northern Europe. The Board of Directors will include four members from each company, Kari Kauniskangas (YIT) will head the group, and Ilkka Salonen (Lemminkäinen) will become the financial director.
Source:http://fontanka.fi
