Indoor Group Ltd transferred to Kesko's ownership
Kesko Corporation's subsidiary Keswell Ltd has received the approvals of the Finnish, Swedish, Estonian and Latvian competition authorities for the acquisition of Indoor Group Ltd. Other conditions for the execution of the transaction have also been fulfilled. In Finland, there is an appeal pending concerning the Finnish Competitive Authority's approval of the acquisition. Under the provisions concerning acquisitions, the transaction may, however, be executed. The transaction was made today, 21 January 2005.
On 29 October 2004, Keswell Ltd made an agreement to acquire Indoor Group Ltd's shares from Sponsor Fund I Ky and the other shareholders. As a result, the chain concepts of Indoor Group Ltd, as well as Indoor's own Asko and Sotka furniture stores in Finland, Sweden, Estonia and Latvia, were transferred to Keswell Ltd's ownership.
Piscina Oy made an appeal to the Market Court concerning the Finnish Competition Authority's approval of the transfer of Indoor Group Ltd to Keswell Ltd. According to the notice given today by the Market Court, the Market Court has not made any decision on the appeal made concerning the Finnish Competitive Authority's approval of the acquisition by 21 January 2005. So the Market Court has not continued the one-month prohibition on execution that became effective on 20 December 2004. Therefore, the prohibition concerning the execution of the transaction has, by virtue of legislation, expired on 20 January 2005.
As the conditions of the transaction have been fulfilled, the agreement was signed today, 21 January 2005. Kesko Corporation has issued previous stock exchange releases on the matter on 29 October 2004, 7 December 2004 and 21 December 2004.
Further information:
Matti Laamanen, President of Keswell Ltd, tel. +358 1053 39100
Pasi Mäkinen, Vice President of Keswell Ltd, tel. +358 1053 39101
Kesko Corporation
Corporate Communications
Erkki Heikkinen
Senior Vice President
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