YIT has made an initial, non-binding offer to acquire HOCHTIEF Service Solutions

STOCK EXCHANGE RELEASE                     May 23, 2013 at 09:00 a.m.


YIT has made an initial, non-binding offer to acquire HOCHTIEF Service Solutions. On the basis of YIT’s initial offer, the seller has informed that YIT’s proposal qualifies the start-up of due diligence process and SPA negotiations.

YIT is not expected to be the sole bidder qualified to the next phase in the potential acquisition. As the tendering process and the sales negotiations are about to be initiated, the terms and conditions of the possible acquisition, including the purchase price, remain yet to be agreed. Due to this, YIT cannot at this stage estimate the possibility of the realization of the acquisition, the detailed timetable, its effects on the company's operations or the risks involved with the possible acquisition.

YIT expects to announce more information by the end of June. The business of HOCHTIEF Service Solutions relates to the Building Systems operations of YIT. Pursuant to the demerger plan signed on 21 February 2013 the business potentially to be acquired would be transferred to Caverion Corporation in the proposed partial demerger of YIT, subject to the approval of the demerger plan by the Extraordinary General Meeting of YIT Corporation on 17 June 2013. The prospectus relating to Caverion Corporation, an entity to be established in YIT’s partial demerger, will be published by estimated on June 5, 2013 and it will be available on YIT’s website (www.yitgroup.com).


Information about HOCHTIEF Service Solutions

HOCHTIEF Service Solutions is a German facility management and energy services business, which has operations in Germany, Bahrain, Denmark, Czech Republic, Greece, Hungary, Poland, Slovakia, Switzerland and United Kingdom. HOCHTIEF Service Solutions turnover was EUR 700 million and net profit EUR 16 million in 2012 and it employs approximately 5,700 people.

For further information, please contact:

Juhani Pitkäkoski, President and CEO, juhani.pitkakoski@yit.fi

Sakari Toikkanen, SVP Business Development, sakari.toikkanen@yit.fi, +358 40 532 2174

YIT Corporation

Milena Hæggström

Investor Relations Manager

Distribution: NASDAQ OMX, principal media, www.yitgroup.com

YIT is a leading European service company in building systems, construction services and services for industry. Our 25,000 professionals serve customers in 14 countries in the Nordic and Baltic countries, Russia and Central Europe. For over one hundred years we have grown together with our customers and developed our services in line with the changes taking place in different societies. We intend to continue on that track. Our vision is to lead the way in creating and maintaining good living environments. In 2012, YIT’s revenue was approximately EUR 4.7 billion. YIT’s shares are listed on the NASDAQ OMX Helsinki. www.yitgroup.com



This announcement is not an offer of securities for sale in any jurisdiction.

No securities are being registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration. No public offering of securities is being made in the United States.

This release includes forward-looking statements. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this communication, including, without limitation, those regarding the demerger plan and its execution. By their nature, forward looking statements involve known and unknown risks, uncertainties and other factors because they relate to events and depend on circumstances that may or may not occur in the future. Such statements are based on numerous assumptions and may differ materially from (and be significantly more negative than) those made in, or suggested by, the forward-looking statements contained in this release.

About Us

YIT is the largest Finnish and significant North European construction company. We develop and build apartments and living services, business premises and entire areas. We are also specialised in demanding infrastructure construction and paving. Together with our customers, our nearly 10,000 professionals are creating more functional, attractive and sustainable cities and environments. We work in 11 countries: Finland, Russia, Scandinavia, the Baltic States, the Czech Republic, Slovakia and Poland. The new YIT was born when over 100-year-old YIT Corporation and Lemminkäinen Corporation merged on February 1, 2018. Our pro forma revenue for 2018 was approximately EUR 3.8 billion. YIT Corporation's share is listed on Nasdaq Helsinki Oy. www.yitgroup.com