Kanonaden Entrepenad AB is a Swedish civil engineering company established in 1983 with headquarters in Nässjö in Jönköping county. In 2015 the company and its subsidiaries saw turnover of SEK 654 million, and the company has approx. 170 employees.
Kanonaden Entrepenad AB takes on assignments in groundworks, water and drainage, concrete works, district heating, cable laying, windpower and road construction. The company operates in southern Sweden, including Stockholm and Gothenburg.
The agreed enterprise value for 100 per cent of Kanonaden Entrepenad AB on a cash and debt free basis is SEK 260 million. Settlement is expected to consist of shares in AF Gruppen ASA and cash.
The transaction is subject to due diligence and approval by the Board of Directors. It is expected that the transaction will completed by 31 January 2017.
For further information:
CEO Morten Grongstad, tel. +47 99 15 39 05
EVP/CFO, Sverre Hærem, tel. +47 95 24 51 67
