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AF Gruppen

M&A Activity • Feb 11, 2022

3522_rns_2022-02-11_7d341873-156b-4009-a71f-f1174ebdc62a.html

M&A Activity

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Gathering operations in Sweden

Today AF Gruppen has entered into an agreement with Betonmast AS to acquire 100% of the shares of Betonmast Sverige AB. Betonmast Sverige AB is a holding company for all of Betonmast’s operating companies in Sweden. Currently, AF Gruppen has an indirect stake in Betonmast Sweden of 64.94%. Betonmast Sweden had a turnover of SEK 1,978 million in 2021.

Following this, AF Gruppen will gather its Swedish businesses in the Sweden business area with the ambition to ensure the strongest possible foundation for profitable growth.

The acquisition will be completed ultimo Q1 2022. The transaction will not impact AF Gruppen's profit result. AF Gruppen will report in accordance with the new structure starting from Q1 2022.

For further information:

Bård Frydenlund, EVP Sweden and Betonmast at AF Gruppen, tel.: +47 918 68 621

Sverre Hærem, CFO of AF Gruppen, tel.: 952 45 167