Per Aarsleff Holding A/S (CPSE: PAAL B) agreed to acquire 70% stake in Permagreen Gronland A/S for DKK 38.7 million on May 6, 2021 The remaining ownership interest of 30% will be equally shared between Permagreen's current Chief Executive Officer Jeppe B. Steffensen and the current Production Director Jesper J. Petersen, who both continue in the management. For the year ended 2020, Permagreen reported a revenue of approximately DKK 400 million. Permagreen Gronland has 350 employees. The former principal shareholder Preben Kold Larsen will continue in Permagreen until June 2022, after which time he will work as a consultant. The acquisition is subject to the approval of the Greenlandic competition authorities and is not expected to change Aarsleff's earnings expectations for 2020/21. On, 1 November 2021 we have received this approval from the Greenlandic competition authorities. The acquisition will formally take place on 17 November 2021. As of November 1, 2021, Greenland competition authorities approved the transaction. The acquisition was formally completed on November 17, 2021.

Per Aarsleff Holding A/S (CPSE: PAAL B) completed the acquisition of 70% stake in Permagreen Gronland A/S on November 17, 2021.