Skanska price target raised to SEK 172 from SEK 160 at UBS » 12:2211/2011/20/20
UBS analyst Anastasia…
UBS analyst Anastasia Solonitsyna raised the firm's price target on Skanska to SEK 172 from SEK 160 and keeps a Sell rating on the shares.
|Over a week ago|
Skanska to divest ownership stake in ERC in Virginia for $625M » 05:2711/0911/09/20
Skanska has signed a…
Skanska has signed a binding sale and purchase agreement, or SPA, for its 50% ownership stake in Elizabeth River Crossings, or ERC, in Hampton Roads Metropolitan Area, Virginia, for gross sale proceeds of $625M. The buyer is Abertis, and Manulife Investment Management, on behalf of John Hancock Life Insurance. The transaction will be recorded at closing under Central stream, which is expected to be in Q4. ERC was established by Skanska and Macquarie Infrastructure Partners II, a fund managed by Macquarie Infrastructure & Real Assets in 2012 as part of a public-private partnership with the Virginia Department of Transportation, to rehabilitate the existing Downtown and Midtown Tunnels, construct a new, parallel Midtown Tunnel, extend the Martin Luther King Freeway to I-264, and assume all tolling, operations and maintenance of these facilities through 2070. The construction of the new Midtown Tunnel was completed by a Skanska-led construction joint venture in 2016, almost a year ahead of schedule. Completion of the sale is subject to regulatory approvals and other consents. The final purchase price may be adjusted as a result of certain conditions. Skanska will announce the final amount and closing of the divestment in connection with the completion of regulatory approvals and other consents and the satisfaction of SPA conditions. It is anticipated that completion of the divestment will take place by the end of 2020, with MIP II's divesting its 50% managed equity stake in ERC also at such time.
Skanska invests $65M in Los Angeles development project » 05:2410/2910/29/20
Skanska invested approximately $65M in its first Los Angeles office development project located in Beverly Hills. The construction contract is worth about $33.3 M, which will be included in the U.S. order bookings for Q4. Skanska plans to develop and build a four-story, 4,270 square meter office building with roof top terrace and four below grade parking levels. The project will target LEED Platinum certification. Skanska expects to begin construction in the end of October and the project is scheduled to be completed in Q3 of 2022.
|Over a month ago|
Skanska awarded $112M contract to renovate, expand Charlottesville library » 05:2710/2010/20/20
Skanska has signed an…
Skanska has signed an additional contract with University of Virginia to renovate and expand the historical Alderman library in Charlottesville, Virginia. The contract is worth $112M which will be included in the U.S. order bookings for Q4. The work will include a complete demolition of a 1967 addition, replacing it with a six-story concrete framed addition of approximately 11,600 square meters. The existing 9,300-square-meter library will also be renovated, which will include the renewal of building systems with all new infrastructure and better utilization of space to improve wayfinding. The overall goal of the renovation is to adapt the building to meet the current and future needs of its users, and create more open spaces and a stable environment that will be more conducive to the long-term preservation of library collections. Construction began January and completion is scheduled for December 2022.
Skanska awarded $91M contract to expand U.S. aluminum processing facility » 05:2310/0910/09/20
Skanska has signed a…
Skanska has signed a contract to design and build an expansion to an existing aluminum processing facility in the Southeast, U.S. Skanska will include the contract worth $91M in the U.S. order bookings for Q3. The contract includes the design and construction of a 8,000-square-meter expansion, in addition to remodeling 1,900 square meters of existing plant space. The facility will utilize green technology to increase capacity. Construction is expected to begin in Q2 of 2021 and completion is targeted for 2023.
|Over a quarter ago|
Skanska upgraded to Neutral from Underperform at BofA » 05:2506/0806/08/20
BofA upgraded Skanska to…
BofA upgraded Skanska to Neutral from Underperform with a SEK 200 price target.
Skanska price target lowered to SEK 160 from SEK 175 at UBS » 10:5705/1405/14/20
UBS analyst Anastasia…
UBS analyst Anastasia Solonitsyna lowered the firm's price target on Skanska to SEK 160 from SEK 175 and keeps a Sell rating on the shares.