Merko Ehitus: Changes in group companies structure in Estonia

Tallinn, Estonia, 2017-12-04 15:30 CET (GLOBE NEWSWIRE) --

Regarding the improvement of efficiency of the business operations and the
structure of the Estonian companies of AS Merko Ehitus group: 

  1. AS Merko Ehitus entered into preliminary sales agreement for sales of real
     estate related business to its 100% subsidiary AS Merko Ehitus Eesti. As a
     consequence of the sale the legal structure of the group's Estonian
     companies will be aligned with the management structure as of 1st January
     2018.

  1. 100% owned group subsidiaries AS Merko Ehitus Eesti, OÜ Metsailu, OÜ
     Paekalda 2, OÜ Paekalda 3, OÜ Paekalda 7, OÜ Paekalda 9, Osaühing Unigate,
     Suur-Paekalda OÜ, Väike-Paekalda OÜ, Kivimäe 32 OÜ and AS Merko Tartu
     signed a merger agreement, according to what the acquiring company is AS
     Merko Ehitus Eesti. The merge date is 1st January 2018 after which all
     merging companies transactions will be deemed to be made on the account of
     AS Merko Ehitus Eesti.

  1. AS Merko Ehitus Eesti disposed its 76% shareholding (share with nominal
     value of 2,607 euros) in OÜ Fort Ehitus to its co-owner OÜ Tamax Holding.
     OÜ Fort Ehitus is active in the field of water engineering. The parties do
     not disclose the transaction price. The transaction is not to be treated as
     transaction with related parties as to stock exchange regulation.

Transactions do not have any effect on AS Merko Ehitus group consolidated
profit, assets or liabilities. 

Merit Kullasepp
Communication and Marketing Manager
AS Merko Ehitus
Phone: [phone]
E-mail: [e-mail]

AS Merko Ehitus (group.merko.ee) group consists of Estonia's leading
construction company AS Merko Ehitus Eesti, the Latvian-market-oriented SIA
Merks, UAB Merko Statyba that is operating on the Lithuanian market,
construction company Peritus Entreprenør AS in Norway and the real estate
development business unit along with real estate holding companies. As at the
end of 2016, the group employed 797 people and the company's 2016 revenue was
EUR 252 million.