Iveco Group N.V. and Hedin Mobility Group AB, following up on the Letter of Intent signed in March 2023, announce the signing of a Share Purchase Agreement under which the Hedin Mobility Group will acquire 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,” according to IVECO. 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, the company said.