Fasadgruppen Group AB (publ) (OM:FG) agreed to acquire Brenden Materialer As and Brenden & Co Stillasutleie AS and Prostillas As on July 1, 2024. In this transaction, Fasadgruppen Group will acquire 100% stake in Brenden Materialer, Brenden & Co Stillasutleie and 15% stake in Prostillas. Fasadgruppen is using existing cash and available credit facilities to finance the acquisition.

The seller has undertaken to re-invest part of the purchase price by acquiring existing shares in Fasadgruppen within the next three months following completion for an amount corresponding to NOK 25 million. The shares bought under the re-investment are subject to a lock-up commitment for 36 months. The acquisition is subject to approval by the Norwegian competition authorities and is expected to be completed during the third quarter of 2024.