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2015-08-27

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.

Photo
http://hugin.info/172/R/1947868/707405.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Veidekke ASA via Globenewswire

HUG#1947868

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