STOCKHOLM, Sweden, July 16, 2004 (PRIMEZONE) -- Skanska is exploring a possible divestment of its 80.4 percent share holding in Skanska Cementation India Ltd. The process is at a preliminary stage and no definitive decision has been made in this regard.
The possible sale would be part of Skanska's strategy of achieving a leading position in selected geographical core markets.
Skanska Cementation India Ltd is publicly listed in India and is primarily a civil contractor. In 2003 it had net sales corresponding to approximately SEK 1 billion, with an operating profit of SEK 15 M.
In Skanska's consolidated accounts, the book value of the capital employed relating to the holding in Skanska Cementation India Ltd is approximately SEK 200 M, including goodwill of about SEK 110 M arising from the acquisition in 2000 of Kvaerner Construction, which Cementation India was part of. The extent to which the price in a potential transaction would cover the book value of the capital employed remains to be determined.
For further information please contact:
Peter Gimbe, SVP Communications, Skanska AB, tel +46 8 753 88 38
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