Konekesko Oy and Danish Agro Machinery A/S, a Danish Agro Group company, have agreed on Konekesko’s Finnish agricultural machinery trade operations to be transferred to Danish Agro Machinery’s Finnish subsidiary Finnish Agro Machinery on 1 August 2019. EU Commission approved the transaction earlier this spring.
In July 2018, Konekesko Oy and Danish Agro Group companies agreed on the sale of Konekesko’s Finnish agricultural machinery trade operations and Konekesko’s remaining shares in its Baltic subsidiaries to Danish Agro Group. EU Commission approved the transaction of the Finnish operations unconditionally and the Baltic transaction with conditions earlier this spring. The sale of the shares in the Baltic subsidiaries to Danish Agro Group is conditional to, among others, Danish Agro divesting its certain businesses in Estonia.
In the transaction of the Finnish operations to be completed in August Konekesko’s employees will transfer to a new Danish Agro Group company Finnish Agro Machinery. Also Konekesko’s agricultural machinery trade operations’ inventory, representations and, among others, warranty obligations and contractual relationships with service partners will transfer to Finnish Agro Machinery.
Kesko Corporation announced it would sell Konekesko’s Finnish agricultural machinery trade operations and the remaining shares in its Baltic subsidiaries to Danish Agro Group companies in a press release issued on 6 July 2018.
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