Non-entry into force of a construction contract (business complex Verde in Riga)
The contract, which was signed by SIA Merks, part of AS Merko Ehitus group, and SIA Hanza 14 on 16 June 2020 for the construction of business complex Verde in Riga, did not take effect due to the fact that the conditions for its entry into force were not satisfied. Negotiations to sign a new contract for the construction of business complex Verde have ended without reaching an agreement.
Stock exchange announcement from 17 June: https://www.nasdaqbaltic.com/statistics/et/news/314133.
SIA Merks (merks.lv) is a Latvian construction company, which offers construction services in the fields of general construction, civil engineering and residential construction.
Head of Group Finance Unit
AS Merko Ehitus
+372 650 1250
AS Merko Ehitus (group.merko.ee) group consists of AS Merko Ehitus Eesti in Estonia, SIA Merks in Latvia, UAB Merko Statyba in Lithuania and Peritus Entreprenør AS in Norway. Besides providing construction service as a main contractor, the group’s other major area of activity is apartment development. As at the end of 2019, the group employed 694 people, and the group’s revenue for 2019 was EUR 327 million.