Veidekke ASA: Veidekke acquires Leif Grimsrud AS

Veidekke Entreprenør AS has entered into a letter of intent to acquire 80% of the shares in the civil engineering contractor Leif Grimsrud AS in Halden and its subsidiaries Leif Grimsrud Entreprenad AB and Øst AS. "Veidekke would like to grow in the civil engineering market, and Grimsrud will strengthen our local and regional operations in the central region of Eastern Norway", says Managing Director Dag Andresen of Veidekke Entreprenør.

Grimsrud has 230 employees in Østfold and 30 in Strømstad, and revenues totalled NOK 920 million in 2014. Grimsrud carries out local building projects in Halden and construction contracts in Østfold, Akershus and Bohuslän.

"Grimsrud is a solid, well-run contractor that has delivered good long-term results. They have a high level of expertise in engineering design, planning and management with their own employees and machinery. In addition, they have a similar corporate culture and values that will fit in very well with Veidekke. We look forward to welcoming their capable skilled workers and staff to our team", says Managing Director Dag Andresen of Veidekke Entreprenør.

It is expected that the final agreement will be signed in November, subject to approval by the Competition Authority.

For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
Managing Director Dag Andresen of Veidekke Entreprenør, tel. +47 91 55 14 10, dag.andresen@veidekke.no
General Manager Asle M Berg of Grimsrud, tel. +47 90 19 78 40, asle.berg@leifgrimsrud.no 
Communications Manager Helge Dieset of Veidekke ASA, tel. +47 90 55 33 22, helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of building and construction contracts, maintains roads and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is NOK 24 billion (2014), and half of the 6,400 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.