Krogerus advised VR Group on the sale of its subsidiary VR Track to NRC Group ASA, listed on the Oslo Stock Exchange, for an enterprise value of EUR 225 million.
The Nordic countries are investing in new rail, metro and tram connections as part of their efforts to build more environmentally friendly and more sustainable transport systems. The combination of NRC Group and VR Track will form a leading rail infrastructure company in the Nordics.
After the acquisition, VR Group becomes the largest shareholder of the NRC Group owning approximately 18 percent of the company's shares. The new company will employ more than 2,450 employees and its annual turnover will be over EUR 600 million.
The Krogerus deal team was led by partners Jan Johanson and Marcus Möller. They were mainly assisted by senior associates Lauri Raade and Taru Kovanen, and associate Jenni Teurokoski.
The Krogerus team responsible for competition law aspects and the upcoming merger control filing in Sweden was led by partner Leena Lindberg and she was assisted by senior associate Tuulia Tanskanen and associate Alina Böling.