Administer Oyj (HLSE:ADMIN) proposed to acquire an additional 40.10% stake in Kuntalaskenta Oy for ?0.12 million from Pieksämäki City Council on July 2, 2024. The purchase price is ?0.12 million, of which ?0.05 million will be paid with Administer Plc?s shares. Upon completion, Administer Oyj will own 90% stake in Kuntalaskenta Oy.

The remaining 10% of the shares of Kuntalaskenta still under the ownership of the City of Pieksämäki. The bid has been approved by the Board of Directors of Administer Plc and the Pieksämäki City Council. Kuntalaskenta has reported turnover of ?2.25 million in 2023.

The transaction is expected to take place in early autumn. Evli Oyj (HLSE:EVLI) acted as financial advisor to Administer.