JM Negotiates Acquisition in Oslo

JM is negotiating with the owners of ÖIE AS, Oslo, to acquire all shares in the company and a project portfolio for residential development of over 600 building rights. The business, with about 70 employees and a building rights portfolio, is mainly located in northern Oslo.

The acquisition is subject to completion of due diligence and a local authority decision planned for June/July.

JM’s growth strategy includes growth in Norway, particularly in the Oslo area.

More information will be provided in the final agreement.

For more information, please contact:
Magnus Berg, head of JM Byggholt: +46 (0)18-66 03 69
Tomas Eriksson, press officer: +46 (0)8-782 86 61

JM is one of the leading developers of housing and residential areas in the Nordic region.  Operations focus on new production of homes in attractive locations, with the main focus on expanding metropolitan areas and university towns in Sweden, Norway, Denmark, Finland and Belgium. We are also involved in project development of commercial premises and contract work, primarily in the Greater Stockholm area. JM shall promote long-term quality and environmental management in all its operations. Our annual sales total approximately SEK 10 billion and the company has about 2,200 employees. JM AB is a public limited company listed on the NASDAQ OMX Stockholm, Mid Cap segment.