Agentrade has 18 outlets across Hungary employing 88 staff with net sales of around €6.3m last year.
Ramirent plans to combine Agentrade with its operations in Hungary. The management team of Agentrade will remain.
The board of directors of Ramirent has decided to direct to the sellers of Agentrade a new issue of 168,903 Ramirent shares. Consequently, the share capital of Ramirent will be raised by over €72,000.
It is expected that the shares will be listed on the Helsinki Stock Exchange soon.
Half of the shares will be “locked” for 24 months starting from the closing date. These can be sold only after the end of the lock-up period.
Ramirent claims to be the leading machinery rental company in the Nordic countries, and in central and eastern Europe. The group has headquarters in Helsinki, and has more than 240 permanent outlets in 11 countries.
