POHJOLAN LIIKENNE TO ACQUIRE 50% OF SP TRANSIT FINLAND

Oy Pohjolan Liikenne Ab will acquire 50% of the shares of SP Transit Finland Ltd. A privately-owned Finnish family company, SP Transit Finland Ltd operates in forwarding and transports. Its main owner is Kuljetusliike K. Jokinen Oy.

The deal includes an option to purchase the remaining 50% of the shares after five years.

SP Transit Finland is active in groupage and full-load transportations to Russia, Estonia, Latvia, Lithuania, Poland, the Czech Republic, Slovakia and Hungary on a daily basis. The company services include e.g. storage and customs clearance, refrigerated and special transports, and transport of dangerous goods.

SP Transit Finland owns subsidiaries in Estonia, Latvia, Lithuania and Poland. The subsidiaries and SP Transit Finland’s business operations in Russia are included in the deal, whereas the seller’s share of customs clearance operations in Russia and real estate used in business operations are excluded.

As a result of this deal, SP Transit Finland can focus more resources on Eastern Europe, and Pohjolan Liikenne will be able to build comprehensive distribution systems in the same area.

For implementation of the deal, the competition authorities’ approval is required.