28 October 2021 Vauban Infrastructure Partners (Vauban) signed a definitive agreement to acquire Boreal Holding AS (Boreal), a leading multi-modal public transportation services solution provider headquartered in Stavanger, Norway from Everbright Overseas Infrastructure Investment Fund LP (EOIIF), a fund sponsored and managed by the listed company China Everbright Limited. Aabø-Evensen has acted as legal advisor for Vauban.
The acquisition will strengthen Vauban’s investment footprint in the mobility sector and enhance its presence in the Nordic region. Vauban is committed to maximize its impact in the region and create sustainable value to all the stakeholders long-term.
Boreal is one of the largest operators in the Norwegian public transportation market. It operates medium- to long-term contracts granted by public transport authorities in four key segments of car ferry, fast ferry, light rail and nationwide buses. Since 2018 and as a result of EOIIF’s ownership, Boreal has achieved substantial growth in its contract portfolio, and a successful expansion into Sweden.
Boreal has taken the position as a global pioneer in sustainable transportation, and has commenced operations of several key electric ferry operations fully powered by battery in 2021, in addition to electric bus contracts across Norway.
The transaction is one of several investments managed by Vauban Infrastructure Partners in the Nordic region. Closing of the transaction is expected during the fourth quarter of 2021 or the first quarter of 2022, subject to customary closing conditions (including anti-trust clearance).
Aabø-Evensen has acted as legal advisor for Vauban. Please click on the links below for further information.
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