Completion of the acquisition of a subsidiary
Nordecon AS informs that as the Estonian Competition Authority has issued respective approval (issue date 27 February 2020) and the Commercial Register has registered the respective entry (entry date 05 March 2020), the change in the capital structure of the affiliate company Embach Ehitus OÜ (announcement) has been completed, whereby Nordecon AS holds now a 51% majority shareholding in the company and Embach Ehitus OÜ has become a subsidiary of Nordecon AS. The financial results of Embach Ehitus OÜ will be consolidated into Nordecon AS reports as a subsidiary as of 01 March 2020.
Nordecon (www.nordecon.com) is a group of construction companies whose core business is construction project management and general contracting in the buildings and infrastructures segment. Geographically the Group operates in Estonia, Ukraine, Finland and Sweden. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated unaudited revenue of the Group in 2019 was 234 million euros. Currently Nordecon Group employs close to 690 people. Since 18 May 2006 the company's shares have been quoted in the main list of the NASDAQ Tallinn Stock Exchange.
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