Veidekke acquires Selmer Bostäder in Stockholm
As one of the largest building, property and construction companies in Scandinavia, Veidekke has entered the Stockholm market through the acquisition of Selmer Bostäder in Stockholm. By increasing the competition and adding competence, Veidekke will make a positive contribution to the strong development of the Stockholm region. Veidekke has acquired Selmer Bostäder from Skanska.
"This acquisition gives us a positive and quick start in Stockholm," says Mr. Terje R. Venold, President and CEO of Veidekke ASA. "We have also taken over ongoing development projects, as well as a broad contact network and some projects which are in process. Additionally, this will bring our establishment in Sweden more into focus, especially in the Stockholm area, he adds.
Selmer Bostäder AB is a real estate development company, established in Stockholm in 1999. The company has nine employees. Håkan Bergquist is the Managing Director. All the employees will be integrated into the new organisation, which will be named Veidekke Fastighetsutveckling AB.
The projects
With this acquisition, Veidekke Fastighetsutveckling will take over five housing projects in Stockholm. The first, a project in Västerås consisting of eight flats, will be completed in October this year. The largest project is the rebuilding of Saltsjøbaden Hospital. This project consists of 70 flats for senior citizens, and construction is scheduled to start in October/November 2000. Co-owner in the project is HSB and Veidekke has taken over Selmer's 50% ownership share.
Skanska retains the projects SBL in Solna and the Halmen quarter at Södermalm in Stockholm.
The other projects are: approximately 50 houses in Rönninge, the conversion of Kranglans Sjukhem (hospital) in Nacka into flats, and semi-detached houses in Stureby. In the portfolio, there is also an option for a piece of land in Hammarby where plans have been made for approximately 100 flats.
Organisation
Veidekke Fastighetsuveckling AB will report to Veidekke's Property Division. The new company's offices will be at Hälsingegatan 40 in Stockholm.