Veidekke — M&A Activity 2015

Aug 27, 2015

Veidekke ASA: Veidekke has acquired Reinertsen Entreprenør

Veidekke ASA: Veidekke has acquired Reinertsen Entreprenør

Veidekke Entreprenør AS has signed a contract with Reinertsen AS to acquire

their onshore building and construction operations. "Reinertsen Entreprenør

strengthens our ability to perform and increases our competitiveness. Now we are

looking forward to welcoming 215 new skilled colleagues in Oslo, Trondheim and

Bodø,"  says EVP Dag Andresen of Veidekke Entreprenør.

Reinertsen Entreprenør carries out building projects in Oslo, Trondheim and Bodø

and construction contracts all over the country. From 1 September the 215

employees, three ongoing projects and an order backlog on NOK 600 million will

become a part of Veidekke's building and construction operations.

"Reinertsen Entreprenør has competent skilled workers and officials who will

strengthen Veidekke. We are experiencing high levels of activity and have great

need for Reinertsen's expertise in both building and construction. This makes

this a very good match between Veidekke and Reinertsen," EVP Dag Andresen of

Veidekke Entreprenør said when the acquisition process was announced in July.

The parent company, Reinertsen AS, wants to focus on its core activities in the

time ahead. Their consulting engineering and architect activities are not

affected by the sale, and nor are Reinertsen's oil and gas operations.

Transfer will take place with accounting effect from 1 September, and the

purchase price is NOK 77 million. The acquisition will be carried out as a

purchase of assets and liabilities.

The photo shows Division Director Kristian Reinertsen of Reinertsen AS (left)

and EVP Dag Andresen of Veidekke Entreprenør. (Photo: John Inge

Vikan/Byggeindustrien).

For more information, please contact:

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

dag.andresen@veidekke.no

Division Director Kristian Reinertsen, tel. +47 93 09 05 45,

kristian.reinertsen@reinertsen.no

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

companies. The company undertakes all types of construction and civil

engineering contracts, maintains roads, and produces asphalt and aggregates. The

company is characterised by involvement and local knowledge. Revenue is almost

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#1947868]