Skanska is divesting its ownership in Elizabeth River Crossings in Virginia, USA, for USD 625M, about SEK 5.4 billion
Skanska has signed a binding Sale and Purchase Agreement (“SPA”) for its 50 percent ownership stake in Elizabeth River Crossings HoldCo LLC, (“ERC”) in Hampton Roads Metropolitan Area, Virginia, USA for gross sale proceeds of USD 625M (to be adjusted by transaction costs and other items), about SEK 5.4 billion. The buyer is Abertis, and Manulife Investment Management, on behalf of John Hancock Life Insurance Company (U.S.A.). The transaction will be recorded at closing under Central stream, which is expected to be in the fourth quarter of 2020.ERC was established by Skanska and Macquarie