MT Højgaard Holding: Sale of ScandiByg removes overhang - ABG

Nordic Wood exercises option to buy ScandiByg
Removes overhand and frees up management resources


Sale price of approximately DKK 30m

MTHøjgaard Holding (MTHH) has this morning announced that Nordic Wood has exercised its option to acquire ScandiByg. Albeit MTHH management alongside its Q1'23 report expressed optimism regarding the sale process for ScandiByg, today's announcement should, never the less, be positively perceived by the market. The sale occurs early / ahead of the 16 October option exercise deadline and also frees up management resources now available to focus on the continued streamlining of MTHH. The sale price is expected to be around DKK 30m and slightly below the DKK 38m book value and MTHH maintains responsibility for previously delivered projects (cut-off ~May 2023). The company maintains its FY'23 guidance.

Länk till analysen i sin helhet: https://cr.abgsc.com/foretag/mt-hojgaard-holding/Equity-research/2023/7/mt-hojgaard-holding---sale-of-scandibyg-removes-overhang/