Merger between Nordecon AS and its subsidiary Eston Ehitus AS
On 02 September 2020, Nordecon AS and its 100% subsidiary, Eston Ehitus AS signed a merger agreement with the intention to improve the group’s internal efficiency and simplify management structure.
According to the merger agreement, the acquiring company is Nordecon AS. As a result of the merger Eston Ehitus AS will wind up and Nordecon AS shall continue as the legal successor of Eston Ehitus AS. The merger date is 01 July 2020 after which all Eston Ehitus AS transactions will be deemed to be made on the account of Nordecon AS.
This transaction does not have any effect on Nordecon AS group consolidated profit, assets or liabilities. Eston Ehitus AS cannot be deemed to be a significant subsidiary for the purposes of the NASDAQ Tallinn Rules and Regulations chapter Requirements for Issuers.
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, Sweden, Finland and Ukraine. The parent of the Group is Nordecon AS, a company registered and located in Tallinn, Estonia. The consolidated revenue of the Group in 2019 was 234 million euros. Currently Nordecon Group employs close to 710 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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