Per Aarsleff Holding — M&A Activity 2017

Aug 31, 2017

Copenhagen, 2017-08-31 12:01 CEST (GLOBE NEWSWIRE) -- Per Aarsleff Holding A/S
has entered into an agreement to acquire 51% of the Norwegian company Olimb
Group’s pipe renewal activities. The structure of the transaction is that
Aarsleff acquires 51% of the shares in a newly established company to which the
current pipe renewal activities of Olimb Group will be transferred prior to the
completion of the transaction. Also, it has been agreed that Aarsleff will get
an option to buy the remaining shares at book value at the latest in 2022. The
total price for 100% of the company is fixed at DKK 103 million.

Olimb has about 100 employees and generates revenue of approx. DKK 165 million.
In 2016, the company had an operating profit (EBIT) of approx. DKK 13 million.
Olimb has a leading position on the Norwegian market for trenchless pipe
renewal, and the company is respected for being an innovative and serious
specialist contractor working for public, industrial and private customers.

The company will be included in the total activities of the Aarsleff Pipe
Technologies segment, and the intention is to further develop Olimb's leading
position in Norway achieved after more than 40 years within trenchless pipe
renewal.

In recent years, Aarsleff has carried out similar activities in Norway on a
small scale. These activities have been organised from Denmark.

The acquisition of Olimb Group’s pipe renewal activities will allow us to
increasingly make use of Aarsleff’s internally developed methods and products
internationally and generally exploit synergies and efficiency potential.

The transaction will be completed in the first half of September 2017.

The acquisition does not affect Aarsleff's earnings expectations for the
financial year 2016/2017.

Further information:

General Manager Ebbe Malte Iversen, tel. +45 8744 2222.