“With the sale of our equipment services and the cooperation agreement, we can more strongly focus on our core business and ensure that we have access to a comprehensive range of equipment and the latest digital services. Already for several years, Renta Group has been YIT’s primary partner in delivering equipment in Finland outside of Southern Finland. The transaction will further deepen the partnership with Renta. With the transaction, YIT improves its capital efficiency,” says Tuomas Mäkipeska, Chief Financial Officer, YIT Corporation.
”The acquisition of YIT’s equipment rental company and the long-term cooperation agreement with YIT significantly strengthens Renta’s operations in Finland. Renta and YIT have already had a successful cooperation for several years and through the acquisition the partnership is further broadened to cover entire Finland. YIT is an excellent partner for Renta for continued development of high-quality and sustainable services by leveraging digital solutions. YIT’s equipment rental company is known for high-quality services and we warmly welcome the transferring professionals to Renta,” said CEO Kari Aulasmaa, Renta Group Oy.
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.
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