YIT Corporation, the largest Finnish and a significant North European development and construction company, has agreed on the sale of the entire share capital of YIT Kalusto Oy, the company’s subsidiary providing in-house equipment services, to Renta Oy, a company operating in the equipment rental business. As part of the arrangement, YIT and Renta will sign a long-term cooperation agreement on the delivery of equipment services to YIT in Finland.

In addition to the share transaction, YIT sells to Renta the property used by YIT Kalusto Oy, located in Urjala, Finland. Prior to the share transaction, the specialised equipment related to YIT’s Infrastructure business and the personnel working with the business, will be transferred to YIT Infra Oy in an intra-group business transaction.

HLP acted as financial advisor to YIT in the transaction.

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