HELSINKI, FINLAND: Skanska has signed a binding Stock Purchase Agreement (SPA) for its 100 percent ownership of PCI Skanska Inc. (PCIS), a multi-discipline design subsidiary company, for gross sale proceeds of USD 20 million, about SEK 170M.

The buyer is engineering and facility planning firm Salas O’Brien. The transaction will not have any material impact on profit for the period and is expected to close in the second quarter 2021.

PCI Skanska was acquired by Skanska in 2011 along with its sister company, Industrial Contractors Skanska (ICS). ICS remains a wholly-owned subsidiary of Skanska USA Civil. The sale of PCI Skanska is a key part of Skanska’s strategy to focus on its core civil construction operations in the U.S.

Skanska is one of the leading construction- and project development companies in the U.S. specialized in building construction, civil infrastructure, and developing commercial properties in select U.S. markets. Skanska USA had sales of SEK 66 billion in 2020 and had about 7,600 employees in its operations.

Skanska is a world leader in construction and project development in select markets throughout the Nordic region, Europe, and the USA. Driven by the Group’s values, Skanska contributes to a better society by providing innovative and sustainable solutions. The Group has about 32,500 employees, and 2020 revenue totaled SEK 159 billion. www.skanska.com