JM acquires business and residential building rights in Oslo

JM acquires business and residential building rights in Oslo

JM is acquiring all shares in ÖIE AS, Oslo, and a project portfolio for
residential development of about 350 building rights.  The purchase
consideration of SEK 443 million, for Öie AS and building rights, will
be paid in conjunction with the closing on July 1, 2011. The deal also
includes conditional acquisition of about 300 building rights and about
400 building rights in the form of options.  The Öie AS business, with
about 70 employees and a building rights portfolio, is mainly located in
northern Oslo.

-  Öie AS is a highly renowned construction and project development
company that has successfully been active inOslo since 1957. The company
specializes in residential development with a focus on quality,
resulting in numerous awards for well-executed projects. The acquisition
is a good fit with JM's growth strategy and overall the deal entails
potential development of about 1,000 residential units inOslo,” says
Johan Skoglund, CEO.

For more information, please contact:
Magnus Berg, head of JM Norway: +46 (0)18-66 03 69
Sten Hamberg, business unit manager: +46 (0)18-66 88 52
Tomas Eriksson, press officer: +46 (0)18-66 86 61