Acquisition of Strøm Gundersen AS

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November 2011 – Acquisition of Strøm Gundersen AS

About the deal

In 2011 Bryan, Garnier & Co advised the AF Group on the acquisition of 84.5% stake in Strøm Gundersen AS.

The transaction prices the companies of the Strøm Gundersen group at a combined value of NOK 997m on a 100 % basis before correction for minority interests.

Pål Egil Rønn, CEO of the AF Group, commented: “The companies in the Strøm Gundersen group are solid  building and construction contractors that can point to good performance over the course of time. The Strøm Gundersen group complements AF geographically and brings specialist expertise in renovation in the building and construction market. The companies of   the Strøm Gundersen group represent an exciting platform for future development

About AF Gruppen ASA

AF Gruppen ASA, the listed Norway-based industrial company headquartered in Oslo, is engaged in the civil engineering, construction, property, energy, environmental and offshore sectors.

About The Strøm Gundersen group

The Strøm Gundersen group is a leading and significant building and construction contractor. In 2010, the Strøm Gundersen group had a total turnover of NOK 941m and has indicated that in 2011 it expects a turnover of about NOK 1.2 bn.

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