Key Developments: Af Gruppen ASA (AFGRA.OL)

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Latest Key Developments (Source: Significant Developments)

AF Gruppen re-acquires majority shareholding in Miljobase Vats
Tuesday, 9 Sep 2014 08:30am EDT 

AF Gruppen ASA:Says re-acquires majority shareholding in Miljobase Vats AS.Says has signed an agreement to purchase 119,885 shares in Miljobase Vats from 60 current shareholders.Says will own 99.9 percent of the shares of Miljobase Vats AS.Says total purchase price for acquired shares is 135.8 million Norwegian crowns in cash, which values share capital in the company at 226.3 million crowns.Says the acquisition will be financed from AF Gruppens cash holdings.Says in 2010 AF Gruppen sold down from a 100 percent to a 40 percent shareholding in Miljobase Vats AS.  Full Article

AF Gruppen ASA acquires a rock protection company
Monday, 8 Sep 2014 10:00am EDT 

AF Gruppen ASA:Says has through subsidiary VSP Holding AS entered into an agreement with the owner of Fjerby AS to acquire 100 percent of the shares in the company.Says the acquisition includes also taking over 50 percent of the shares in DS Enterprenor AS, which also offers rock protection services.Fjerby AS and DS Entreprenor AS reported revenues of 65 million Norwegian crowns and 34 million crowns respectively.  Full Article

AF Gruppen ASA subsidiary wins contract from CNR International (U.K) Limited
Wednesday, 13 Aug 2014 02:30am EDT 

AF Gruppen ASA:Says that its subsidiary, AF Decom Offshore U.K. limited, has been awarded a letter of intent by CNR International (U.K) Limited.Says letter of intent concerns the removal and disposal of the Murchison platform in the North Sea.Says the contract assumes commencement of the engineering work in 2014.Says the offshore work starts early 2016 with removal and final disposal work continues through to 2020.  Full Article

AF Gruppen wins new construction contract in Hasle
Monday, 30 Jun 2014 09:30am EDT 

AF Gruppen ASA:Says it has entered into a contract with Hasle Linje 4 AS (Hoegh Eiendom) for the construction of an office building in Hasle in Oslo.The building will include a new head office for COWI, among others.The contract encompasses construction of an eight- storey office building with basement car parking.The total gross area for this project is approximately 15,800 square meters.The project will be carried out as a turnkey contract and is valued at 294 million Norwegian crowns, excluding VAT (value added tax).Construction is scheduled to start in the second quarter, with completion in second quarter of 2016.  Full Article

AF Gruppen ASA says Strom Gundersen AS chosen as contractor for construction of office building Papirbredden 3 in Drammen
Friday, 20 Jun 2014 07:00am EDT 

AF Gruppen ASA:Says Strom Gundersen AS, where the AF Gruppen (AFG) is the principal shareholder, has been chosen by Papirbredden Eiendom AS as contractor for the construction of the office building Papirbredden 3 in Drammen.Papirbredden Eiendom AS is owned by Entra Eiendom and the municipality of Drammen.The agreement covers construction of an office building of about 10,500 m2, and will include office premises and an underground parking garage.Strom Gundersen AS has also built Papirbredden 1 and 2.The contract has a value of 153 million Norwegian crowns excl. VAT.Construction will commence in autumn 2014 with completion in July-Oct. 2015.  Full Article

AF Gruppen ASA to build for ASKO in Vestby
Wednesday, 18 Jun 2014 06:26am EDT 

AF Gruppen ASA:Says it has been chosen by ASKO Norge AS as the turnkey contractor for the construction of new cold storage facilities at ASKO's existing plant in the municipality of Vestby in Akershus.The contract comprises construction work, technical installations, cooling systems, outdoor facilities, connection to the existing central warehouse, and remodeling of the outgoing goods terminal.The value of the contract value is estimated at 322 million Norwegian crowns, excluding VAT.Work will start in Aug./Sept., and the construction period is expected to last for about 30 months.  Full Article

AF Gruppen sells 50 pct in BA Gjenvinning
Wednesday, 21 May 2014 06:00am EDT 

AF Gruppen ASA:To sell 50 percent of shares in the company BA Gjenvinning to Gunnar Holth Grusforretning AS.BA Gjenvinning has 12 employees and revenues in 2013 were 28 million Norwegian crowns.No further details.  Full Article

AF Gruppen acquires site for development at Hasle in Oslo
Thursday, 15 May 2014 09:00am EDT 

AF Gruppen ASA:Signs a letter of intent with Hoegh Eiendom for cooperation and development of commercial sites in the grounds of Arcus's former production facility at Hasle in Oslo.Says a total of 110,000 square meters (sqm) gross area of commercial property is planned for the sites, whereof about 18,350 sqm gross area is already leased.The agreement implies the purchase of 50 percent of the shares in a new project/principal company that will be demerged from Hasle Utvikling AS.The acquisition values the properties at 600 million Norwegian crowns.  Full Article

AF Gruppen receives order from Jernbaneverket
Wednesday, 23 Apr 2014 09:55am EDT 

AF Gruppen ASA:Receives order from Jernbaneverket (the Norwegian government’s agency for railway services).Is chosen as contractor for the Asland preparatory work contract.The contract involves the two access tunnels, each of about 1 kilometer, down toward Follobanen's main line.Various ground works are also to be carried out at Asland.The contract is worth about 250 million Norwegian crowns, excluding VAT (value added tax).Work starts at the April/May turn of the month, and construction time will be about one year.  Full Article

AF Gruppen says Strom Gundersen builds nursing home for Ovre Eiker Council
Wednesday, 23 Apr 2014 06:00am EDT 

AF Gruppen ASA:Says Strom Gundersen AS will construct a nursing home in Hokksund in Buskerud for Ovre Eiker Council.Value of the turnkey contract 119 million Norwegian crowns, excluding VAT.Construction will start in May and completion is scheduled for Jan. 2016.The building will have three floors and a basement, totalling 6,550 square meters gross building area, and when completed will include a new Council First Aid Medical Centre and places for rehabilitation, dementia care and palliative care in the nursing home.Strom Gundersen AS is a subsidiary of AF Grouppen.  Full Article

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