Veidekke — M&A Activity 2015

Jul 1, 2015

Veidekke ASA: Veidekke acquires Reinertsen Entreprenør

Veidekke ASA: Veidekke acquires Reinertsen Entreprenør

Veidekke Entreprenør AS has signed a letter of intent to acquire Reinertsen's

onshore construction and civil engineering operations. "We have a desire to

grow, and Reinertsen has skilled employees who will strengthen our capacity to

perform and enhance our competitive ability," says EVP Dag Andresen of Veidekke

Entreprenør.

Reinertsen Entreprenør has 250 employees who carry out building construction

projects in Oslo, Trondheim and Bodø and civil engineering projects all over the

country.

"Reinertsen Entreprenør has competent workers and officials who will strengthen

Veidekke's operations. We are experiencing high levels of activity and have

great need for Reinertsen's expertise in both construction and civil

engineering. It is a very good match between Veidekke and Reinertsen," says EVP

Dag Andresen of Veidekke Entreprenør.

"We know Veidekke as a solid and long-term focused company, with a good

tradition of taking care of employees and having the ability to implement

exciting and innovative projects within both construction and civil engineering.

By becoming a part of Veidekke, our employees in the construction business­ will

have a great opportunity to contribute to the development of Norway's largest

construction company," says division director Kristian Reinertsen of Reinertsen

AS.

The parent company, Reinertsen AS, will focus on its core activities. Their

consulting engineering and architect activities are not affected by the sale,

and nor are Reinertsen's oil and gas operations.

It is expected that the final agreement will be signed at the end of August with

transfer from 1 September 2015. The acquisition is subject to approval by the

Norwegian Competition Authority.

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

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

Communications Manager Helge Dieset i 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 construction and civil

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

company is characterised by involvement and local knowledge. Turnover 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.

Reinertsen Entreprenør AS is a subsidiary of Reinertsen with 250 employees in

Oslo, Trondheim and Bodø. The parent company Reinertsen AS has 2,500 employees

and has a turnover of NOK 4 billion (2014). Reinertsen Entreprenør AS undertakes

projects in building and construction. Building represents 60% and construction

40% of the subsidiary's turnover.

This information is subject of the disclosure requirements pursuant to section

5-12 of the Norwegian Securities Trading Act.

[HUG#1933421]