Swedish construction group Skanska has signed a letter of intent to buy Ericsson’s real estate unit.
The move sees Skanska increasing its focus on facilities management while it allows Ericsson to concentrate on core activities as part of a restructuring programme. Ericsson will sign a long-term service contract with Skanska in January 2000.
Ericsson’s real estate unit has a turnover of Skr1.7bn and employs 600 people. All staff will be taken on by Skanska.
Per-Ingemar Persson, president of Skanska Sverige, said: “As a result of this acquisition, we will become one of the leaders in Sweden in the market for facilities management. The new unit will form the core in an aggressive focus on continued expansion in the service sector.”
