Skanska’s divestment of its infrastructure services business in the UK completed with a gain on sale of GBP 31M, about SEK 360M
As announced earlier, Skanska is divesting its infrastructure services business in the UK for GBP 50M, about SEK 580M, to M Group Services. The closing of the deal has been reached with a gain on sale of GBP 31M, about SEK 360M. The transaction will be recorded in Skanska Construction Europe in the second quarter of 2021.
Comprising highways maintenance, rail maintenance and streetlighting replacement and maintenance, the divested business’s revenue in 2020 was GBP 334M, about SEK 3.9 billion. The order backlog amounted to GBP 541M, about SEK 6.3 billion, at the end of the first quarter 2021. The sale is a key part of Skanska’s strategy to focus on its core operations in the infrastructure and building sectors in the UK.
Skanska is one of the leading construction and project development companies in Europe. Outside the Nordics, the company has operations in building construction and civil engineering in Poland, Czech Republic, Slovakia, Hungary, Romania and the UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania and Hungary, while residential development is active in Poland, Czech Republic and in the UK with the BoKlok concept. In 2020, Skanska had sales of SEK 26 billion and about 10,100 employees in its European operations outside the Nordics.