AS EMV

ANNOUNCEMENT

 

SKANSKA OY BUYS MAJORITY IN EMV

 

Skanska OY, a subsidiary of Skanska, one of the biggest 

construction groups in Europe, and current major shareholders in 

EMV - Baltic Republic Fund, Hansa Investments Fund and several 

private investors -, signed contracts, according to which Skanska 

will buy the majority stake in AS EMV. 

 

According to the contracts, which became effective on January 3, 

2000, Skanska has acquired 2,891,800 shares or a 61.0% stake in AS 

EMV. The price of all transactions was EEK 30 per share.

 

As EMV is a listed company, Skanska OY will also make an offering 

to all small shareholders. Skanska's offer will be in line with the 

draft take-over rules of the Tallinn Stock Exchange. 

 

Skanska OY will make a public offering to all EMV shareholders for 

the sale of EMV shares at price of EEK 30 per share. As the goal of 

the offering is to gain 100 percent control over the company, 

Skanska will apply the Tallinn Stock Exchange for the delisting of 

EMV shares.

 

The public offering for the sale of shares is between January 4, 

10:00 a.m. and February 1, 17:00 p.m. The value day of the offer, 

when the transaction of money and securities takes place, is 

February 4. The offered price, 30 EEK per share, exceeds the 

average six month share price (EEK 26.33) on the Tallinn Stock 

Exchange by 13.94%.

 

 

Additional information:

Mauri Niemi 

Skanska OY

Senior Vice President 

+358 961 522 320

 

Jaanus Otsa

AS EMV 

Chairman of the Management Board 

+372 64 03 302

 

Joakim Helenius

Trigon Capital

Chairman of the Supervisory Board 

+372 66 79 200

 

Marko Kaha

Director of Finance

+372 64 03 310