Skanska and Latour sell Piren shares

Skanska and Latour sell Piren shares Skanska and Latour have signed an agreement covering the sale of their Piren shares. The buyer is Rodamco Continental Europe N.V. The selling price is SEK 69.60 per share, corresponding to a total of SEK 1,405.5 million for Skanska and SEK 469.6 million for Latour. The agreement includes provision for Skanska and Latour to receive the companies shares of Piren's 1999 dividend. The sale of the shares generates a consolidated gain of about SEK 648 million for Skanska. The amount includes release of provisions of about SEK 440 million pertaining to internal gains as a result of prior sales of properties from Skanska to Piren. The capital gain for Latour is estimated at SEK 130 million. "Through the sale of shares in Piren, Skanska completes the sale of the Group's shopping centers which were sold in 1996 to Piren. Accordingly, we can realize the value built up in Skanska's earlier investment in shopping centers," says Mats Wäppling, head of Skanska Project Development and Real Estate. "We concluded this transaction because we are making a good deal and that Piren, as a consequence of Skanska's and our sales, enters into an international cooperation with a highly professional corporate group," says Gustaf Douglas, Chairman of Investment AB Latour. The transfer date is February 1, 2000. Stockholm, January 24, 2000 Skanska AB Investment AB Latour For additional information, contact: Mats Wäppling, head of Skanska Project Development and Real Estate, Tel +46 8 - 753 80 14 or +46 70 - 645 03 21 Gustaf Douglas, Chairman of Investment AB Latour, Tel +46 8 - 679 56 00 This and previous releases are also available on www.skanska.com ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/01/24/20000124BIT00750/bit0001.doc http://www.bit.se/bitonline/2000/01/24/20000124BIT00750/bit0002.pdf