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Skanska sells share in Virginia, U.S. project for $625 million

Christian Fernsby |
Skanska has agreed to sell its 50% share in Elizabeth River Crossings HoldCo (ERC) for $625 million to Abertis and Manulife Investment Management, it said on Monday.

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Topics: SKANSKA   

Skanska, the Nordic region’s largest builder and one of the biggest in the United States, said the final purchase price could be adjusted, while the completion of the deal was subject to regulatory approvals.

ERC was established by Skanska and Macquarie Infrastructure Partners II, a fund managed by Macquarie Infrastructure and Real Assets.

Skanska said it expected the deal to close in the fourth quarter of 2020.

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