The agreement implies a realized profit of 15 MSEK to be recognized in the fourth quarter 2019 within the business segment JM Construction. The sale requires approval from the Norwegian competition authority. JM Entreprenör AS has had an average annual turnover of 550 MSEK over the past few years. JM Construction’s operations will onwards focus on civil engineering operations in their current form, where there are clear synergies with JM’s project development of residential units.
“With the sale of JM Entreprenör AS, further steps are taken in focusing our operations towards residential project development and at the same time enabling further development of JM Entreprenör AS as a construction company,” says Johan Skoglund, President and CEO of JM.