MERGERS: AMO SR approved the merger of YIT Oyj and Lemminkäinen Oyj

06.09.2017
On 25 August 2017 the Antimonopoly Office of the Slovak Republic, the Division of Concentrations, (hereafter "the Office") approved the merger which is grounded in merging of business activities of the undertakings YIT Oyj, Finland and Lemminkäinen Oyj, Finland. The successor of the merged comapnies will be the undertaking YIT Oyj, Finland.

The undertaking YIT and its affiliated undertakings operate in the following areas:
  1. construction, development, maintenance and renovation of apartments including social infrastructure such as schools and day centers,
  2. construction, development, maintenance and renovation of business premises including office, commercial, production premises, etc.,
  3. construction, maintenance and renovation of infrastructure such as roads, bridges, railway stations and metro stations, ports and parking lots, energy, water supply and industrial facilities as well as tunnels and mines for the extraction and reinforcement of the land.
From the geographic point of view the YIT Group operates in Finland, Estonia, Latvia, Lithuania, the Czech Republic, the Slovak Republic, Poland and Russia. In Slovakia the undertaking YIT controls the company YIT Slovakia, a.s., which operates mainly in the area of construction services.
 
The undertaking Lemminkäinen and its affiliated undertakings operate in the following areas:
  1. construction, development, maintenance and renovation of housing,
  2. the construction, development, maintenance and renovation of business premises including office, commercial, production and logistic premises and public buildings,
  3. construction, maintenance and renovation of infrastructure and
  4. production and sale of asphalt, paving materials and mineral aggregates,
in seven Nordic and Baltic countries (Finland, Sweden, Norway, Denmark, Estonia, Latvia, Lithuania) and in Russia.
It does not perform any business activity in the Slovak Republic neither in neighbouring countries.
 
After evaluating all the documentation and information acquired the Office came to a conclusion that the assessed merger is in accordance with the Article 12 Paragraph 1 of the Act on the Protection of Competition, as it will not significantly impede effective competition in the relevant market.
 
The decision came into force on 28 August 2017.
Last update:06.09.2017