Kesko Calls Extraordinary General Meeting to Decide on Dahl Acquisition Financing

Kesko Oyj has announced that it will convene an Extraordinary General Meeting of shareholders on Friday, October 30, 2026, at its K-Kampus headquarters in Helsinki. The meeting's primary purpose is to seek shareholder approval for a share issue.

The proposed share issue is intended to finance Kesko's acquisition of the Dahl companies in Sweden, Norway, and Denmark, a transaction announced on June 15, 2026. The acquisition, valued at approximately €1.2 billion excluding debt, is expected to be completed by the end of 2026. Kesko plans to raise between €500–700 million through the share issue, which will complement interim bridge financing.

The company is seeking authorization for the Board of Directors to issue new shares, potentially exceeding the scope of the current authorization granted by the Annual General Meeting on March 26, 2026. This expanded authorization is necessary to facilitate the planned capital raise required for the Dahl acquisition.

Kesko views the acquisition of Dahl, a significant player in technical wholesale in the Nordics, as a strategic move to strengthen its building and technical trade division. The company anticipates that building and technical trade will become its largest division by sales upon completion of the deal, subject to the fulfillment of all closing conditions.