Inin Group AS — M&A Activity 2025

Jan 15, 2025

ININ Group AS: SPA signed to acquire North Norway-based railway contractor

ININ Group AS: SPA signed to acquire North Norway-based railway contractor

15 January 2025 – Nordic Infrastructure Group AS, a subsidiary of ININ Group AS, has today signed the share purchase agreement (SPA) to acquire 100 percent of the shares in North Norway-based railway contractor Nordnes Narvik AS.

Reference is made to the stock exchange announcement dated 29 May 2024 regarding the potential transaction.

Nordnes Narvik AS is a key player in the railway construction industry in Northern Norway, with a strong focus on delivering high-quality infrastructure solutions. The company is headquartered in Narvik in Nordland county, Norway.

According to Norwegian state-owned railway operator BaneNor’s latest InfraStatus report, the upgrade requirements for Norwegian railways are estimated at NOK 123.3 billion over the next 12 years.

“The acquisition of Nordnet Narvik will provide Nordic Infrastructure Group with a valuable, complementary geographical foothold in North Norway,” says Gjermund Sogn, CEO of Nordic Infrastructure Group.

Nordnes Narvik AS is valued at 17.8 million NOK in the transaction. The consideration will be settled in cash in two tranches: the first at closing of the transaction and the second by 31 July 2025.

Completion of the transaction is expected in January 2025.

ININ Group AS is listed on Euronext Growth Oslo. The company’s majority shareholder, Qben Infra AB, is listed on Nasdaq First North Premier Growth Market in Stockholm, Sweden.

(ENDS)

For further information, please contact:

Øivind Horpestad, CEO of Inin Group AS, Tel: +47 910 00 626

About ININ Group AS

ININ Group is a listed investment company operating as an industrial owner with investments in companies within infrastructure and industry services niches in the Nordics. The group create value by identifying investment opportunities within profitable niches with potential for development, consolidation and growth, working in collaboration with the platform companies to deliver sustainable growth and superior profitability. For more information, please visit: www.inin.no