Peab Divests S:t Eriks Peab has divested its holdi
Post# of 301275
Peab has divested its holdings in S:t Eriks. Peab has since 2009 been the owner of 45 per cent of the company. S:t Eriks was formed by combination of Peab’s concrete paving operations and Nordform, owned by Segulah III L.P. The parties have thereafter operated the company as a joint venture. This is the last part in the divestment of S:t Eriks. From 2009 when it was fully owned until now with this last divestment of 45 per cent Peab has released capital over time and further stream lined its business. The Agreement regarding the transfer was signed 19 December 2014 and closing will take place in the first quarter 2015 after approval from the Competition Authorities. The transaction is estimated to lead to a realization loss of 40 Million within Business Area Industry, which will be reported as a write down in the fourth quarter 2014. Peab AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication on 22 December 2014 at 08.30 am. For further information, please contact: Niclas Winkvist, CFO Peab, +46 733 84 75 00 Niclas Brantingson, CIO Peab, +46 733 37 20 06 Peab is the Nordic Community Builder with some 13,000 employees and net sales exceeding SEK 40 billion. The Group’s subsidiaries have strategically located offices in Sweden, Norway and Finland. The share is listed on NASDAQ OMX Stockholm. The registered office of the Group is at Förslöv, Skåne in south of Sweden.
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