Acquisition of additional shareholding (Connecto Eesti AS)
On 25 February 2022, AS Merko Ehitus Eesti, part of AS Merko Ehitus group, signed a contract with Aardekapp OÜ to acquire additional 15% holding (82,500 shares) in Connecto Eesti AS, which designs, builds and maintains electrical, gas and telecommunications networks.
The agreement is a continuation of the share acquisition agreements entered into on 2 June 2021. After the acquisition of an additional shareholding, the Merko group owns 50% of Connecto Eesti AS and the latter will become a joint venture between AS Merko Ehitus Eesti and Aardekapp OÜ.
The acquisition of a holding as a set of two transactions is not a significant acquisition within the meaning “Requirements for Issuers” of the Tallinn Stock Market rules.
AS Merko Ehitus Eesti (merko.ee) is Estonian leading construction company, which offers construction services in general construction, civil engineering and residential construction and develops residential real estate. To ensure the best quality and convenience for home buyers, Merko manages all phases of the development: planning, design, construction, sales and service during the warranty period.
Additional information: AS Merko Ehitus Eesti, Chairman of Management Board, Mr. Ivo Volkov, phone: +372 680 5105.
Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
urmas.somelar@merko.ee
AS Merko Ehitus (group.merko.ee) group consists of AS Merko Ehitus Eesti and Tallinna Teede AS in Estonia, SIA Merks in Latvia, UAB Merko Statyba in Lithuania and Peritus Entreprenør AS in Norway. Besides providing construction service as a general contractor, the group’s other major area of activity is apartment development. As at the end of 2021, the group employed 672 people, and the group’s revenue for 2021 was EUR 339 million.
