On 15 December 2010 Veidekke announced a letter of intent to acquire 51% of the shares of the Hæhre group's contracting operations. The purpose of the acquisition is to strengthen the competitive ability of both companies in terms of the major construction projects ahead.
On 15 December it was announced that the due diligence process was expected to be completed by the end of March. Due diligence is to all intents and purposes completed. The parties require more time to finalize contractual terms. Based on this, the letter of intent is extended to the end of June 2011.
Any questions may be directed to:
Executive Vice President and CFO Jørgen W. Porsmyr, tel. +47 21 05 76 44/+47 907 59 058
Director of Finance Jørgen Michelet, tel. +47 21 05 77 22 / +47 917 43,856 38 56,
ExecutiveVice President Communication Kai Krüger Henriksen, tel. +47 21 05 77 04/+47 905 19 360