Veidekke — M&A Activity 2017

Mar 15, 2017

Veidekke acquires Grensesvingen 9

Veidekke acquires Grensesvingen 9

Veidekke has reached agreement with Auris Eiendomsinvest I

AS and Auris Holding AS to buy Grensesvingen 9 at Helsfyr.

Veidekke wants to redevelop the site to build around 200

homes.

Veidekke has a land bank of over 2,500 units in Oslo, and is

once again looking for new locations around Ensjø and

Helsfyr. Grensesvingen 9 fits in well with Veidekke's

portfolio, and the plan is to develop the property along

with the neighbouring plot, Grenseveien 97, to build around

400 new homes in an area that is in tremendous growth. The

objective is to be able to sell the first homes in 2020.

- "We are very happy to close this deal, and along

with the neighbouring plot at Grenseveien 97, which we

bought earlier, we will be able to develop a very attractive

housing project," says Regional Director Anders

Holmlund. "Grensesvingen 9 is centrally located in Helsfyr,

one of the fastest growing transformation areas in Oslo, and

will be very attractive for new housebuyers", Holmlund

continues.

The plot size is 7,500 m2, and is currently occupied by a

multi-user office and combination building of approx. 11,500

m² BTA. The acquisition is subject to satisfactory due

diligence for Veidekke Eiendom AS of the company, property

and management.

For press photos, go to www.flickr.com/photos/veidekke, for

more details, please contact:

Regional Director Anders Holmlund, Veidekke Eiendom, tel.

+47 99 56 22 65, anders.holmlund@veidekke.no

Director for Strategy, Audun Blegen, Veidekke Eiendom, tel.

+47 95 97 96 64, audun.blegen@veidekke.no

Finance Director, Jørgen Michelet, Veidekke ASA, tel. +47

917 43 856, jorgen.michelet@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 30 billion (2016), and half of the 7,400 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.