Veidekke ASA: Veidekke to buy Nycoveien 2 in Oslo

Veidekke has entered into an agreement with GE Healthcare AS to buy Nycoveien 2 in Oslo. The plan is to rezone the site for housing purposes.

Nycoveien 2 is in Nydalen in Oslo and consists of a site of approx. 8,500 m2 of commercial property. The building is currently primarily used as headquarters, R&D and production for GE Healthcare AS, who wish to consolidate this in other buildings. 50% of the property is leased until 1 October 2016, with an option for an extension. Veidekke considers the potential for the development of the property to be greatest if converted to housing purposes. This process will start immediately.

The property will be taken over 15 December 2014.

"This property has great potential in an attractive area and is a good addition to Veidekke's housing portfolio in the Oslo area. We will now commence work on developing the site for housing purposes and envision carrying this out under our own auspices in cooperation with Veidekke Entreprenør," says Managing Director of Veidekke Eiendom, Emil Paaske.

For more information, please contact:
Managing Director of Veidekke Eiendom, Emil Paaske, tel. +47 958 19 170,
SVP Finance, Jørgen Michelet, tel. +47 917 43 856, 

Veidekke is one of Scandinavia's leading contractors and property developers with a turnover of NOK 21 billion (2013) and 6,300 employees. Activities include building and construction projects, residential developments, asphalt plants, gravel and aggregates, and road services. Our values are professional, honest, enthusiastic and ground-breaking. Our goals for health, safety and the environment, HSE, have equal status with our financial goals. Veidekke is characterised by a strong corporate culture with employee involvement and co-ownership as important cornerstones. More than half of the employees are co-owners, holding around 20 per cent of the Group's shares between them. The company is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.