OSLO, NORWAY: 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.
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.
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