Mehiläinen repurchases its own shares

After the share repurchase LocalTapiola Group’s ownership in the company and its board representation at Mehiläinen ends. As a result of the repurchase and the subsequent annulment of the acquired shares, the ownership of Mehiläinen's remaining shareholders will increase proportionally to the annulled approximately 20% ownership stake.

The shareholders and board of directors of Mehiläinen Konserni Oy considered that a simplification of the company’s ownership structure and board composition is in the company’s best interest. In the company’s view, the consideration per share offered does not exceed the fair value of the company’s share price. The company has sufficient distributable assets based on the latest adopted financial statements to effect the acquisition.

The repurchase of shares has no impact on customers or the use of Mehiläinen services. LocalTapiola will continue to be a contractual partner of Mehiläinen.

Turning 115 years old this year, Mehiläinen Group is a rapidly developing and growing leader in the social and healthcare services in Europe. Mehiläinen serves 2.1 million customers annually in its home markets in Finland, Sweden, Estonia and Germany. Mehiläinen services are produced at over 840 locations by more than 37 000 employees and private practitioners. Mehiläinen also provides digital healthcare software solutions internationally through its subsidiary BeeHealthy.