Danish Agro Group assumes ownership of Konekesko’s Baltic subsidiaries

Investor news / 31.03.2020 18:30

Konekesko Oy and the Danish Agro Group company DA Agravis Machinery Holding A/S have today completed the transaction concerning Konekesko’s remaining stake in its Baltic subsidiaries. The transaction was completed after Danish Agro in March 2020 met the conditions set by the European Commission, namely the approval for the divestment of its certain business operations in Estonia.

Konekesko Oy and DA Agravis Machinery Holding A/S agreed in July 2018 that Konekesko was to sell its remaining stake in its Baltic subsidiaries to Danish Agro Group. The parties also agreed on the sale of Konekesko’s agricultural machinery trade operations in Finland, a transaction that has been completed earlier. The European Commission approved the transaction concerning the Baltic subsidiaries with the condition that Danish Agro Group got a further approval from it for divestment of its certain business operations in Estonia. Danish Agro got the required further approval in March 2020.

With the completion of this divestment, according to its strategy Kesko no longer engages in the machinery trade.

Kesko Corporation communicated the divestment of its remaining stake in Konekesko’s Baltic subsidiaries to a Danish Agro Group company in a press release on 6 July 2018.

Further information:

Jarkko Karjalainen, Vice President, M&A, jarkko.karjalainen@kesko.fi, tel. +358 105 322 694.

Kesko Corporation

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