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The divestment of the Water & Sewage business to Ahlsell is approved by the Swedish Competition Authorities

Oslo, 29 September 2017: In June, Saferoad Holding ASA (“Saferoad” or the “Group”) entered into an agreement to divest the Swedish Water & Sewage business to Ahlsell AB. The transaction has now been approved by the Swedish Competition Authorities and is expected to close in beginning of November.

As communicated on June 22, Saferoad entered an agreement to divest the Swedish Water & Sewage business to Ahlsell AB. The divestment also includes a cooperation agreement with Ahlsell for the distribution of Saferoad's advanced geotechnical products used in small and medium-sized construction projects in Norway and Sweden.

The transaction is structured as a transfer of assets including inventories, equipment and immaterial property related to the Swedish Water & Sewage operations of Saferoad's subsidiary, ViaCon AB, which is part of the Road Infrastructure Nordic division. The transaction will have a positive impact on the Group's EBITDA margin. The gross cash proceeds will be approximately SEK 90 million, depending on the value of inventory at closing, and the transaction is expected to result in a minor accounting gain.

 

For more information, please contact:

Morten Holum, CEO
+47 99 50 99 30