(MENAFN- GlobeNewsWire - Nasdaq) itemprop="articleBody">On 13 December 2018 the supervisory board of Nordecon AS made the decision, whereby it's 100% owned subsidiary Eurocon OÜ will obtain a 50% shareholding in a related company Technopolis-2 TOV, registered in Ukraine, in which pre-transaction Nordecon AS owned through its subsidiaries a 50% shareholding. As the result of the transaction, Nordecon AS will own through its 100% owned subsidiaries Eurocon OÜ and Eurocon Ukraine TOV a 100% shareholding in Technopolis-2 TOV and for the accounting purposes the latter becomes from a related company to a subsidiary. The aim of the transaction is to obtain a full ownership in a development project on the attractive terms for the Group.
Technopolis-2 TOV owns through a direct ownership and a long term lease 4.4 ha of land located in Boryspil district, Kyiv oblast at the Kyiv – Kharkiv highway. The aim of the project is to develop a logistics centre consisting of warehouses and offices.
The acquisition of holding is planned to be completed during December 2018.
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:
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