Skanska sells school in Norway for NOK 214 M, about SEK 250 M

9/21/2012 8:30 AM CET
Press release

Skanska has through its fully owned company Søreide School signed an agreement with the Bergen municipality for the development, financing, construction and maintenance of a new school in Søreide, Norway. The shares in the holding company are sold for NOK 214 M, about SEK 250 M, to Oslo Pensjonsforsikring AS. The transaction is booked in the third quarter of 2012.

Søreide School

The project is a Bundled Construction, through which Skanska has utilized the Group’s financial strength to create new business opportunities. The concept has been applied earlier in the development and construction of premises for various public authorities.

Skanska Norway focuses on construction and civil engineering operations. The unit has approximately 4,500 employees. In 2011, Skanska Norway reported revenue of SEK 12.5 billion. In Norway, Skanska is also active in the development of residential, commercial properties and public private partnerships (PPP) projects.