Skanska is divesting its ownership of PCI Skanska Inc. (PCIS) in Indiana, USA, for USD 20M, about SEK 170M
6/23/2021 7:30 AM CET
Press release
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 20M, 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.