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

15 Jan 2025 15:32 CET

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

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