Skanska sells holding in Brazilian PPP project at a gain of SEK 550 M
12/14/2007 9:38 AM CET
Skanska has signed an agreement for the sale of its 50-percent equity interest in the Ponte de Pedra hydroelectric power plant in Brazil. The selling price of the equity is approximately SEK 1 billion, with a capital gain of SEK 550 M. The purchaser is the French Belgian energy company Suez-Tractebel, which is also acquiring Impregilo’s 50-percent interest. The buyer will assume the debt in the project company.
The agreement includes usual conditions regarding government approvals. These are expected to be achieved early 2008, by which the gain will be included in Skanska’s earnings.