Expansion of the field of security services of Tallinna Kaubamaja Grupp AS

Yesterday, on 30 December 2020, VIKING SECURITY AS, a subsidiary of Tallinna Kaubamaja Grupp AS, entered into an agreement to acquire from P. DUSSMANN EESTI OÜ its security services business in Estonia together with the assets and agreements belonging to it. As of 1 March 2021, as a result of the acquisition of the business, the assets and agreements related to the provision of security services belonging to P.DUSSMANN EESTI OÜ will be transferred to VIKING SECURITY AS in their entirety and unchanged. Security services will continue to be provided under the business name VIKING SECURITY AS. The parties will not disclose the cost of the transaction.

The acquisition of the security services business area of P. DUSSMANN EESTI OÜ strengthens the security services business area of Tallinna Kaubamaja Grupp AS. The transaction complements the portfolio of manned and technical surveillance services of VIKING SECURITY AS and increases the market share. The annual turnover of the acquired business area is nearly 1.2 million euros.

VIKING SECURITY AS is the third security company in Estonia in terms of market share. Its areas of activity include the creation of security solutions, the design, construction, and maintenance of security systems, manned and technical surveillance services, cash-in-transit, fire safety services, and inventory services.

Dussmann Service employs 700 employees and successfully provides facility services like cleaning, catering, security and technical maintenance in Estonia for the past 24 years, Divestment of its security business line will enable to focus on its remaining services going forward  and to further expand its’ position as one of the leading FM service providers in Estonia.

Dussmann Group is one of the largest private multi-service providers worldwide with more than 66,000 employees and activities in 14 countries. Its services includes facility maintenance, technical building equipment and engineering, nursing and care for the elderly, in-house corporate child-care and retail media in Berlin.

The transaction is not deemed an acquisition of a qualifying holding or a transaction with a related party as defined in the section ‘Requirements for Issuers’ of the regulations of the NASDAQ OMX Tallinn and does not have a significant impact on the activity of Tallinna Kaubamaja AS. The members of the supervisory board and management board of Tallinna Kaubamaja Grupp AS are not personally interested in the transaction in any other way.

Raul Puusepp

Chairman of the Board

Phone 731 5000