NOK 7.7bn carve-out acquisition of Veidekke Eiendom

DNB Markets acted as Financial Advisor to Residential Holding in the NOK 7.7bn carve-out acquisition of Veidekke Eiendom from Veidekke ASA and as Sole Underwriter of the acquisition financing facilities.

On June 2016 Residential Holding, a newly established company owned by Fredensborg, NPRO, Union and Baard Schumann, entered into a binding agreement to acquire Veidekke Eiendom at a total consideration of c. NOK 7.7bn (on cash and debt free basis).

Veidekke Eiendom is one of the largest residential development companies in the Nordic region with about 180 FTEs and a land bank of c.19,000 units across Norway and Sweden, centred around the regions of Oslo and Stockholm.

In November 2019, Veidekke ASA announced that the Company had decided to split the group into two separate entities, exploring the opportunity of divesting Veidekke Eiendom by initiating a dual track process. DNB Markets acted as Financial Advisor to Residential Holding and as Sole Underwriter of the acquisition financing facilities.

We would like to thank Baard Schumann and the other shareholders of Residential Holding for the vote of confidence and congratulate on a highly successful transaction. Job well done!