Peab acquires construction companies in Norway

​

Peab has acquired 91 percent of the shares in Telemark Vestfold Entreprenör AS and 33 percent of the shares in Telemark Vestfold Utvikling AS. The acquired companies have 110 employees, a turnover of approximately NOK 250 million and they have their headquarters in Skien, southwest of Oslo. The companies are involved in housing construction and project development.

 - Through these acquisitions, Peab continues its strategy to expand in Norway. The companies complete Peab in a considerable way. Now we will strengthen our competitiveness on the west side of Oslo Fjord, says Peab's Deputy CEO Jan Johansson in a statement.

For further information, please contact:

Jan Johansson, Deputy CEO Peab +46 733 374000

Gösta Sjöström, CIO Peab +46 733 371010

Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act.

The information was submitted for publication at 11.15 am on 19 November 2010.

Previous press releases from Peab are available at www.peab.com

Peab is one of the leading construction and civil engineering companies in the Nordic countries with a net sale exceeding SEK 35 billion and approximately 13,000 employees. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.