NRC Group ASA enters into agreement to divests its Finnish and Swedish design business
The transaction NRC Group Holding AS, a wholly owned subsidiary of NRC Group ASA (“NRC Group” or the “Company”), has on 12 August 2019 entered into a Share Purchase Agreement (“SPA”) with Sweco AB (“Sweco”) for the sale of all issued and outstanding shares in NRC Holding Design Oy (“NRC Design” or the “Design Business”), an entity to be formed prior to closing resulting from a planned demerger of NRC Holding Finland Oy and NRC Group Finland Oy (the “Demerger”), for an enterprise value of EUR 42.5 million on a cash and debt free basis with normalised working capital (the “Transaction”).