YIT - Company Announcement

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

Helsinki, Finland, 2013-05-23 08:00 CEST (GLOBE NEWSWIRE) -- YIT Corporation   
    STOCK EXCHANGE RELEASE                     May 23, 2013 at 09:00 a.m. 



YIT HAS MADE AN INITIAL, NON-BINDING OFFER TO ACQUIRE HOCHTIEF SERVICE SOLUTIONS


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 




DISCLAIMER



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.