Veidekke — M&A Activity 2015

Oct 5, 2015

Veidekke ASA: Veidekke acquires Leif Grimsrud AS

Veidekke ASA: Veidekke acquires Leif Grimsrud AS

Veidekke Entreprenør AS has entered into a letter of intent to acquire 80% of

the shares in the civil engineering contractor Leif Grimsrud AS in Halden and

its subsidiaries Leif Grimsrud Entreprenad AB and Øst AS. "Veidekke would like

to grow in the civil engineering market, and Grimsrud will strengthen our local

and regional operations in the central region of Eastern Norway", says Managing

Director Dag Andresen of Veidekke Entreprenør.

Grimsrud has 230 employees in Østfold and 30 in Strømstad, and revenues totalled

NOK 920 million in 2014. Grimsrud carries out local building projects in Halden

and construction contracts in Østfold, Akershus and Bohuslän.

"Grimsrud is a solid, well-run contractor that has delivered good long-term

results. They have a high level of expertise in engineering design, planning and

management with their own employees and machinery. In addition, they have a

similar corporate culture and values that will fit in very well with Veidekke.

We look forward to welcoming their capable skilled workers and staff to our

team", says Managing Director Dag Andresen of Veidekke Entreprenør.

It is expected that the final agreement will be signed in November, subject to

approval by the Competition Authority.

For press photos, see www.flickr.com/photos/veidekke, for more information,

contact:

Managing Director Dag Andresen of Veidekke Entreprenør, tel. +47 91 55 14 10,

dag.andresen@veidekke.no

General Manager Asle M Berg of Grimsrud, tel. +47 90 19 78 40,

asle.berg@leifgrimsrud.no

Communications Manager Helge Dieset of Veidekke ASA, tel. +47 90 55 33 22,

helge.dieset@veidekke.no

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Veidekke is one of Scandinavia's largest construction and property development

companies. The company undertakes all types of building and construction

contracts, maintains roads and produces asphalt and aggregates. The company is

characterised by involvement and local knowledge. Revenue is NOK 24 billion

(2014), and half of the 6,400 employees own shares in the company. Veidekke is

listed on the Oslo Stock Exchange and has always posted a profit since it was

founded in 1936.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1956695]