Although the closing process took longer than initially estimated, the transaction was completed in accordance with the agreed sale price and other terms. The full financial effects of the transaction will be disclosed in YIT’s semi-annual report.
Markku Moilanen, YIT’s President and CEO: “We are very pleased to announce that the transaction has been completed. Our business in Russia faced unprecedented challenges due to the crisis in Ukraine, and the sale of the business allowed us to exit quickly, in a controlled and complete manner. We can now focus fully on our strategy and core businesses.
The strategic review of Russian operations was initially initiated in November 2021 and accelerated in March 2022 due to changes in the geopolitical situation.
Source: YIT Corporation
Source: The Nordic Page