YIT will not continue negotiations to acquire HOCHTIEF Service Solutions

YIT CORPORATION        STOCK EXCHANGE RELEASE             JUNE 28, 2013 AT 21:30 EET

 

YIT WILL NOT CONTINUE NEGOTIATIONS TO ACQUIRE HOCHTIEF SERVICE SOLUTIONS
 

YIT announced on May 23, 2013 that it had made an initial, non-binding offer to acquire German HOCHTIEF Service Solutions. On the basis of YIT’s initial offer, due diligence process as well as sale and purchase agreement negotiations were started. These negotiations have now ended without result.

The business of HOCHTIEF Service Solutions would have related to the Building Systems operations of YIT. Pursuant to the demerger plan signed on February 21, 2013 the business potentially to be acquired would have been transferred to Caverion Corporation, estimated to be established on June 30, 2013 in the partial demerger of YIT.

The registration document according to the Finnish Securities Markets Act, which includes information on Caverion and its business and financial position, as well as the securities note and summary (together with the registration document the “Prospectus”) related to the partial demerger disclosed by YIT on February 5, 2013 and the shares to be given as demerger consideration in connection with the partial demerger, have been available as of June 5, 2013 on YIT’s website at www.yit.fi/sijoittajat. The unofficial English translation of the Prospectus has been available as of June 5, 2013 on YIT’s website at www.yitgroup.com/investors. The Prospectus has been supplemented by a supplement document dated June 26, 2013, which has been available as a part of the Prospectus as of June 27, 2013 in the above mentioned addresses.

For further information, please contact:

Juhani Pitkäkoski, President and CEO of Caverion, juhani.pitkakoski@yit.fi, +358 50 409 1244
Sakari Toikkanen, Senior Vice President, Business Development, sakari.toikkanen@yit.fi, +358 40 532 2174

YIT CORPORATION


Milena Hæggström
Investor Relations Manager

Distribution: NASDAQ OMX, principal media, www.yitgroup.com
 

YIT is a leading European service company in building systems, construction services and services for industry. Our 25,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. For over one hundred years we have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2012, YIT’s revenue was approximately EUR 4.7 billion. YIT’s shares are listed on the NASDAQ OMX Helsinki. www.yitgroup.com

DISCLAIMER

This announcement is not an offer of securities for sale in any jurisdiction. No securities are being registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration.  No public offering of securities is being made in the United States.

This release includes forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this communication, including, without limitation, those regarding the demerger plan and its execution. By their nature, forward looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Such statements are based on numerous assumptions and may differ materially from (and be significantly more negative than) those made in, or suggested by, the forward-looking statements contained in this release.