EEZY OYJ -- STOCK EXCHANGE RELEASE -- 11 DECEMBER 2020 AT 10.00
Eezy divests its subsidiary in Sweden
Eezy has today signed an agreement to sell its Swedish subsidiary VMP-Group Sweden AB to Palm & Partners Bemanning AB, who operates in the same business in Sweden.
The Swedish subsidiary has generated approx. 1% of Eezy's revenue in 1-9/2020 and it has not significantly contributed to group's profit.
The transaction is not estimated cause any significant change to Eezy's balance sheet or future profitability. The transaction is expected to be completed in the first quarter of 2021, subject to the satisfaction of certain typical closing conditions. Capital gain from the transaction is preliminarily estimated to be approx. 1.5 million euro.
After the transaction Eezy's revenue is fully generated in Finland.
"We have been present in the Sweden since year 2008, but the significance of the unit has remained small. Our strategic focus is growth and market leadership in the Finnish working-life market, so a natural solution was to find a new local owner for the Swedish unit, with whom our group employees, staffed employees and customers can safely continue co-operation.
The divestment enables us to focus on the Finnish working-life market, where we want to be the most significant actor. We will continue investing in our growth both in the staffing services and the professional services areas", says Eezy's CEO Sami Asikainen.
For further information, please contact:
Sami Asikainen
CEO
sami.asikainen@eezy.fi
tel. +358 (0)40 700 9915
Hannu Nyman
CFO
hannu.nyman@eezy.fi
tel. +358 (0)50 306 9913
