ARTICLE
10 May 1996

Recent Mergers And Acquisitions In Finland - Finnlines Oy Sells Oy Huolintakesku Ab

CS
Castrén & Snellman

Contributor

Castrén & Snellman
Finland Finance and Banking
Finnlines, a Finnish firm in the transportation sector, sold Oy Huo-lintakeskus Ab, a transportation firm, to Scansped Group Oy. After the acquisition Scansped, which is owned by the Swedish firm Bilspedition Ab, will be the largest firm and the market leader in Finland's international road transports. Huolintakeskus' last year turnover was 208 million U.S. dollars, and the acquisition price around 62 million U.S. dollars.

Finnlines acquired Huolintakeskus from the Eerikainen family last year. As Finnlines mainly concentrates on sea transports, several potential foreign buyers started to offer for Huolintakeskus. According to Finnlines CEO Antti Lagerroos the company wanted to prefer a nordic solution and therefore chose to sell the firm to the Swedish owned Scansped. In connection with the deal Finnlines will acquire 16.5 per cent of Bilspedition's shares through a directed share issue.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

Mondaq uses cookies on this website. By using our website you agree to our use of cookies as set out in our Privacy Policy.

Learn More