NCC keeps industrial division after rejecting bids

Swedish construction giant NCC will not sell its industrial operations. NCC has rejected bids that would have valued the division at around 7 billion kronor.

Swedish construction giant NCC will not sell its industrial operations, the company announced in connection with its interim report.

NCC has rejected what appeared to be a deal in the 7 billion kronor range, concluding that shareholders can realize greater value by retaining the division.

– We have now conducted a thorough evaluation and sales process where interest was significant. However, our conclusion is that NCC’s shareholders can extract greater value than what was reflected in the bids received. The business has developed strongly over a long period and we see significant potential going forward, says Tomas Carlsson, CEO of NCC.

To operate as standalone company

Instead, the industrial operations will continue as a standalone company under the leadership of Grete Aspelund.

– By organizing Industry as an independent company, we see that the business can develop even better. At the same time, we gain greater freedom of action for the future, says Tomas Carlsson.