Kesko Oyj - Company Announcement

European Commission has granted Kesko permission to acquire Onninen

KESKO CORPORATION STOCK EXCHANGE RELEASE 24.05.2016 AT 14.00 1(2)

European Commission has granted Kesko permission to acquire Onninen

The European Commission has, for its part, approved the acquisition in which
Kesko Corporation acquires Onninen Oy. The permission does not contain any
conditions. As the Finnish Competition and Consumer Authority FCCA has already
earlier approved the acquisition as regards Finland, all official permissions
required for the completion of the acquisition have been obtained.

In its stock exchange release on 12 January 2016, Kesko Corporation announced
that it would acquire the whole share capital of Onninen Oy from Onvest Oy.
Onninen's steel business and Russian subsidiary are not included in the
acquisition. On Kesko's request, the investigation of the acquisition as regards
Finland was transferred from the European Commission to the Finnish Competition
and Consumer Authority FCCA. The FCCA gave its permission to the completion of
the acquisition on 20 April 2016.

The European Commission investigated the acquisition as regards the other
countries, i.e. Sweden, Norway, Estonia, Latvia, Lithuania and Poland. In its
decision issued on 24 May 2016, the European Commission approved the
acquisition. The Commission did not impose any conditions on the completion of
the acquisition. So all official permissions required for the completion of the
acquisition have been obtained.

When completed, the new trading entity will offer full building and technical
trade selections for both business and consumer customers. The acquisition will
create an excellent platform for the growth of Kesko's building and technical
trade in Finland and the rest of Europe. With the acquisition Kesko's business
in HEPAC and electrical product groups will expand significantly and it will be
able to provide better service especially to contractor customers. In addition,
Kesko will gain new customer relationships from infrastructure and industry
customer groups.

The completion of the acquisition is yet subject to the fulfilment of the other
terms and conditions of the transaction. The acquisition is estimated to be
completed in the first half of 2016.

Further information:
Terho Kalliokoski, Kesko Executive Vice President and President for the home
improvement and speciality goods trade division, tel. +358 105 320 200,
terho.kalliokoski@kesko.fi
Jukka Erlund, Senior Vice President, Chief Financial Officer, tel.
+358 105 322 113, jukka.erlund@kesko.fi
Lauri Peltola, Senior Vice President, communications, corporate responsibility
and stakeholder relations, tel. +358 105 322 400, +358 505 705 606,
lauri.peltola@kesko.fi

Kesko Corporation


Merja Haverinen
Vice President, Group Communications

DISTRIBUTION
Nasdaq Helsinki Ltd
Main news media
www.kesko.fi


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