On September 25, Merko Ehitus group's 100% subsidiaries OÜ Merko Ehitus Ventures and AS Merko Ehitus Eesti signed an agreement, according to which 50% of the share in AS Connecto Eesti, so far owned by Merko Ehitus Eesti, will be transferred to OÜ Merko Ehitus Ventures through the division. The balance sheet date of the division shall be 1 January 2025.
Merko Ehitus group is harmonizing with the change in Estonia the structure of its subsidiaries, the structure based on business segments is used in all home markets of the group.
AS Merko Ehitus Eesti (merko.ee) is a recognised Estonian construction company, which offers construction services in general construction, civil engineering and residential construction.
AS Connecto Eesti (connecto.ee) is a leading Estonian construction company that designs, builds and maintains electricity, telecommunication and gas networks.
The division set out in the notice have negligible effect on the activities of as Merko Ehitus, within the meaning of the section "Requirements for Issuers" of the rules of the stock exchange organised by NASDAQ OMX Tallinn AS. Members of the board and supervisory board of as Merko Ehitus have no economic interest in the transaction.
Urmas Somelar
Head of Finance
AS Merko Ehitus
+372 650 1250
urmas.somelar@merko.ee
AS Merko Ehitus (group.merko.ee) group companies develop real estate and construct buildings and infrastructure. We create a better living environment and build the future. We operate in Estonia, Latvia, and Lithuania. As at the end of 2023, the group employed 635 people, and the group's revenue for 2023 was EUR 466 million.
