Nordic Infrastructure Group AS, a subsidiary of Inin Group AS, has completed the acquisition of 100 percent of the shares in Northern Norway based Nordnes Narvik AS – a specialist railway contractor in the region.
Reference is made to the stock exchange announcement dated 29 May 2024 regarding the transaction.
Nordnes Narvik becomes part of ININ Rail.
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 2024, the company reported a revenue of approximately 30 million NOK and an EBITA of 4.0 million NOK.
TRANSACTION DETAILS Nordic Infrastructure Group AS acquires 100 percent of the shares of Nordnes Narvik AS for a total consideration of NOK 17,8 million. The consideration will be settled in cash. NOK 10,0 million of the consideration has been settled at closing on 17 February 2025, while the remaining amount will be settled by 31 July 2025.
