Agreement concerning sale of shares in Scancem

Agreement concerning sale of shares in Scancem

Skanska and Aker RGI have signed a binding agreement to sell all their shares in Scancem (representing in total 73,4% of the capital and 90,8% of the votes of Scancem) to Heidelberger Cement AG. Heidelberger Cement has committed to launch a tender offer to buy the remaining outstanding shares of Scancem at the same price.

The agreement is conditional on the sale by Scancem of the Finnish business, which is in the process of being finalized as well as on obtaining the necessary regulatory approvals. The Finnish business consists of Finncement and Lohja Rudus. The price payable by Heidelberger Cement will depend on the sale price of the Finnish business. Therefore, the exact price will only be determined upon the signature of a contract with the buyer of the Finnish business. It is anticipated that the price (after a payment of the anticipated dividend of SEK 12 per share) will range from SEK 390 to SEK 410 for A-shares and from SEK 370 to SEK 390 for B-shares. The tender offer is expected to be launched by the end of August, provided that the conditions to closing have been satisfied. Skanska was advised by Morgan Stanley Dean Witter and Aker RGI was advised by Deutsche Bank.

Stockholm, May 3, 1999

SKANSKA AB
Group Communication

For additional information, contact:
Anders Nyrén, EVP Finance Skanska AB, tel +46 40-14 40 00
Staffan Schele, Group Treasurer,tel + 46 40-14 40 00