We advised YIT, the largest Finnish and one of the leading construction companies and urban environment developers in Northern Europe, on the sale of it’s paving and mineral aggregates business in Estonia to KMG Inseneriehitus.
YIT to focus on urban development
The transaction, expected to be completed in the second quarter of 2021, comprises the operations of YIT’s paving, mineral aggregates, blasting, road marking and traffic sign production businesses in Estonia. The personnel of approximately 170 persons will be transferred to KMG as part of the transaction. In 2020, the revenue of the sold business was EUR 35 million.
“Upon completion of the transaction, the business portfolio of YIT will be streamlined and the capital efficiency will be improved. With the remaining housing, business premises and infrastructure businesses, YIT will focus in Estonia to urban development which is the company’s strategic core”, explained Peter Forssell, SVP, Business Premises, YIT.
Our services and client team
We are advising YIT in all stages of the transaction, including support in legal due diligence, negotiating and preparing transaction documents and supporting in closing and post-closing matters. We are also advising the client in relation to competition law matters.
Our client team is led by partner Piret Jesse and includes counsels Lauri Liivat, Kaido Künnapas and Piibe Lehtsaar, senior associates Robin Teever and Lise-Lotte Lääne, associates Vladislav Leiri and Liisa Maria Kuuskmaa along with legal assistant Kadri Puu.