On 12 October 2018 Nordecon AS acquired a 34% minority shareholding in its subsidiary OÜ Kaurits. Prior to the transaction Nordecon AS owned a 66% majority shareholding in the company. The aim of the transaction is to improve the efficiency of the management of construction process in the segment of infrastructure construction. As the result of the transaction, Nordecon AS owns a 100% shareholding in OÜ Kaurits.
Principal activity of OÜ Kaurits is providing rental services of infrastructure and road construction with manned machinery as well as performance of subcontracted environmental and infrastructure construction works.
The acquisition of holding does not constitute the significant acquisition or transfer of holding in the meaning of the Requirements for Issuers of NASDAQ Tallinn Stock Exchange Rules. The transaction made to acquire holding does not constitute related party transaction for the purposes of the Requirements for Issuers. The members of the supervisory board and the members of the management board do not have personal interest in the transaction.
Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2017 was 231 million euros. Currently Nordecon Group employs close to 700 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.
Andri Hõbemägi
Nordecon AS
Head of Investor Relations
Tel: +372 6272 022
Email: andri.hobemagi@nordecon.com
www.nordecon.com