OSLO, NORWAY: Posten Norge AS has terminated the agreement with Aurelius. Bring Frigo AB will continue as a standalone subsidiary of Posten Norge AS, and Posten Norge AS will continue the realisation of the plans for the company’s future development.
On 29 March 2021, Posten Norge AS announced that the company Bring Frigo AB in Sweden would be sold to the German-based investment company Aurelius.
The Swedish Competition Authority confirmed on 26 April 2021 that there were no competitive obstacles to complete the transaction.
The agreement between Posten Norge AS and Aurelius sets out a deadline for when the transaction is to be completed. The Buyer has not met the prescribed deadline for completing the transaction.
Posten Norge AS has therefore opted to terminate the agreement with Aurelius. Bring Frigo AB will continue as a standalone subsidiary of Posten Norge AS, and Posten Norge AS will continue the realisation of the plans for the company’s future development.
“Our decision to terminate the agreement is a natural consequence when a buyer fails to fulfil its obligations under the agreement,” says Thomas Tscherning, Executive Vice President in the Posten Norge Group.
Bring Frigo AB is the market leader in temperature-controlled logistics in Sweden and operates an international network in Sweden, Denmark, Finland, The Netherlands, France and Norway.
Bring Frigo AB operates a network for temperature-controlled logistics in Sweden and internationally. It includes temperature-controlled transport, cold and frozen storage, as well as terminals adapted for the transport of goods in a temperature-controlled environment. In 2020 Bring Frigo had revenues of around SEK 2.4 billion. It employs about 900 people.
AURELIUS Equity Opportunities SE & Co KGaA is the listed holding company of AURELIUS Group, a pan-European investment group with offices in Munich, London, Stockholm and Amsterdam.