Skanska has sold the subsidiary Skanska Prefab Mark to the Segulah private equity company. The purchase price amounts to SEK 336m. The sale generates a capital gain of about SEK 180m, which will be included in earnings in the second quarter of 2005. Prefab Mark will be deconsolidated as of July 1, 2005.
Prefab Mark is one of the Swedish specialty companies that Skanska has decided to divest. The sale is part of Skanska's strategic focus on core operations - construction, project development of commercial premises and residential project development as well as private-public partnering projects.
The segment of Skanska Prefab that produces frame systems for construction of buildings is not affected by the sale but will continue its operations under the name Region Frame Systems within Skanska Sweden.
Prefab Mark develops, produces and sells prefabricated concrete products for paving, curbing and other land improvements, as well as drainage and sewage systems. The company has seven production plants and many sales offices in Sweden. Prefab Mark reported annual sales of SEK 400m in 2004, with a total of about 260 employees.
Source: Skanska
