Iveco Group N.V. (EXM: IVG) and Hedin Mobility Group AB (publ), following up on the Letter of Intent signed in March 2023, announce the signing of a Share Purchase Agreement that sees Hedin Mobility Group acquiring Iveco Group's distribution and retail operations in Sweden, Norway, Finland, and Denmark. This transaction, subject to regulatory approval, is expected to be completed during the first half of 2024.

This partnership fortifies Hedin Mobility Group's position as a leading European mobility provider and expands IVECO's Nordic distribution network. It involves the transfer of marketing and distribution operations for IVECO light commercial vehicles, medium- and heavy-duty trucks, and minibuses sold through the retail network in the four Nordic countries, including spare parts. The agreement also includes the acquisition of the retail business at the IVECO-owned dealerships in Sweden (Gothenburg, Helsingborg and Malmö), Norway (Bærum), Finland (Espoo), and Denmark (Odense).

Iveco Group's commercial vehicle product range is currently sold and serviced in the Nordics through 35 retailers and more than 100 workshops.

Gerrit Marx, CEO, Iveco Group, commented: “Finalizing this key partnership with Hedin Mobility Group immediately after the launch of our new full range is a sign to our commitment to growth and sustainability. This collaboration will enhance our presence in the Nordic market, leveraging Hedin's established network to deliver our innovative, efficient, and environmentally friendly vehicles to more customers.”

Anders Hedin, founder and CEO of Hedin Mobility Group, said: “This strategic partnership with Iveco Group significantly strengthens our value proposition and position as a leading European mobility provider, expanding our business both in distribution and retail. We share a determination to drive change and deliver products and services that benefit both end-users and society at large. Building on the renewed IVECO offering, we are excited to start our collaboration, enhance the brand’s Nordic market presence and create value for existing and new customers.”