Veidekke ASA: Divesting the property development operation
Today, Veidekke signed an agreement with a consortium comprising Fredensborg AS, Fredensborg Bolig AS, Norwegian Property ASA and Union Real Estate Fund III Holding AS (Buyer) concerning the sale of the property development operation in Norway and Sweden against a cash payment of NOK 7.7 billion on a debt-free basis. The transaction will generate a posted gain of approximately NOK 1.2 billion.The transaction is expected to be completed during September 2020. After the sale of the property development operation, Veidekke will be a focused Scandinavian construction group with a strong market