KESKO PRESS RELEASE 30.06.2017 AT 10.15 1(1)
Konekesko Ltd, a Kesko Corporation subsidiary, has sold its Yamarin boat business to Inhan Tehtaat Oy Ab, a subsidiary owned by Yamaha Motor Europe N.V. At the same time, the transfer of the representation of Yamaha's recreational machinery in Finland from Konekesko Ltd to Yamaha Motor Europe N.V. was also completed.
On 19 December 2016, Kesko Corporation announced in a press release that it would sell its Yamarin boat business and Yamaha representation in Finland. The Finnish Competition and Consumer Authority (FCCA) announced on 20 April 2017 that it would approve the transaction. There were no conditions imposed on the completion of the transaction in the decision.
The transaction includes Konekesko Ltd's Yamarin boat business, the import of Yamaha products and the representations of certain other brands. In 2016, the aggregate pro forma net sales of the operations being sold amounted to €61 million. The parties have agreed that the transaction price will not be disclosed.
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