Inin Group AS: Subsidiary to acquire railway contractor in Northern Norway

29 May 2024 12:59 CEST

29 May 2024 – Inin Group’s subsidiary Nordic Infrastructure Group AS has agreed
to the principal terms of an agreement to acquire 100 percent of the shares in
Northern Norway based Nordnes Narvik AS – a specialist railway contractor in the
region.

ABOUT NORDNES NARVIK AS
Nordnes Narvik AS has established itself as a key player in the railway
construction industry in Northern Norway, with a strong focus on delivering
high-quality infrastructure solutions. In the fiscal year 2023, the company
reported a revenue of approximately 30 million NOK and an EBIT of 5.6 million
NOK.

“The expertise of Nordnes Narvik AS in railway construction complements our
existing capabilities and positions us to capitalize on the growing demand for
infrastructure development in the region.” says Gjermund Sogn, CEO of Nordic
Infrastructure Group.

THE POTENTIAL TRANSACTION
Nordnes is valued at 17.8 million NOK in the potential transaction, which is
subject to customary closing conditions, satisfactory due diligence, and final
transaction documentation. Signing of the final share purchase agreement and
closing of transaction is expected during the 2nd quarter of 2024. Further
details of the financial terms of the transaction will be shared following
signing of a final share purchase agreement between the parties.

Upon completion of the potential transaction, Nordnes Narvik AS will become part
of Nordic Infrastructure Group, which heads up Inin Group’s Rail Infrastructure
investment platform.

(ENDS)

For further information, please contact:
Øivind Horpestad, CEO of Inin Group, 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

More information:
Access the news on Oslo Bors NewsWeb site