Reference is made to the announcement on 8 April 2024 concerning Qben Infra AB's
("Qben" or "Qben Infra") announcement of a share exchange offer to shareholders
of ININ Group AS.
About the transaction
On 31 May 2024 Qben Infra announced the signing of a share purchase agreement
for all of the outstanding shares in Team Bygg AS from Tb Industrier AS. As part
of the acquisition, Qben Infra has also signed a share purchase agreement for Tb
Industrier AS' 90% ownership stakes in Holtekilen Bolig AS and Sørumsand
Panorama AS (together with Team Bygg AS described as "Team Bygg Gruppen").
Total value of the transaction is calculated to NOK 100 million, and upon
completion of the transaction, Tb Industrier AS will receive 3 million newly
issued Qben Infra shares and a NOK 25m vendor note. Following completion of the
transaction, Tb Industrier AS will have an ownership share of 7.69% in Qben
Infra.
Rationale for the transaction
The rational for acquiring Team Bygg Gruppen is to strengthen Qben Infra's
Norwegian foothold, and to establish an organisation in Norway that can manage
Qben Infra's Norwegian real estate development projects. Team Bygg has over more
than 35 years of operations developed into an meaningful player in the housing
market in in Norway, with a particular focus on Rogaland and greater Oslo area.
The company has extensive capacity in developing large residential areas which
makes Team Bygg a sought-after partner for both private and public property
developers. Team Bygg has all the necessary resources for the entire execution
of a real estate project - from zoning to sale and occupancy.
Team Bygg has a strong pipeline of real estate projects, including projects that
are currently being completed and sold. Selected on-going projects include
completion of 6 detachment houses at Holtekilen outside of Oslo, 11 detachment
houses in Bryne (Reehagen BK4 and BK 6), 11 houses outside of Bryne at
Vesthøyden (Kleppevarden),Moreover, Team Bygg has several upcoming projects in
close proximity to Oslo, including land acquired in Sørumsand, and 11 upcoming
housing units in Slemmestad.
For further information, please contact:
Per Andersen, CEO of Qben Infra AB, Tel: +46 07 07 37 17 17