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Skanska signs contract for sale of Myresjöhus

Press release 12/22/2004 8:52 AM CET

Skanska and Industri Kapital have signed a binding agreement covering the sale of Myresjöhus. The sale is conditional upon the approval of the appropriate authorities.

   Press release

 

December 22, 2004


Skanska signs contract for sale of Myresjöhus

Skanska and Industri Kapital have signed a binding agreement covering the sale of Myresjöhus. The sale is conditional upon the approval of the appropriate authorities.

The purchase price amounts to slightly more than
SEK 500 M. The transaction will generate a positive result of about SEK 200 M. This will be included in Skanska's earnings for the fourth quarter of 2004. Cash flow from the sale will be reported in the first quarter of 2005 and Myresjöhus was deconsolidated as of October 1, 2004.

The sale of Myresjöhus is part of the effort to more clearly focus the Skanska Sweden business unit on its core business - infrastructure, building construction and residential construction.

The result from the sale of Myresjöhus will be reported under the "Divested operations" heading in Skanska's financial reporting.

Myresjöhus, which designs and constructs single-family homes, has been part of Skanska Sweden and posted sales in 2003 of about SEK 950 M. The company has some 400 employees.

Industri Kapital is a European private equity firm with Nordic roots, managing close to EUR 4 billion in fund commitments from Nordic, European and international institutional investors.

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For further information, please contact:

Anders Lilja, Senior Vice President, Investor Relations, Skanska AB, tel: +46 8 753 88 01
Peter Gimbe, Senior Vice President, Communications, Skanska AB, tel: +46 8 753 88 38 or +46 70 543 88 38
Samir Kamal, Partner, Industri Kapital, tel: +46 8 678 95 28 or +46 70 378 95 28