Nordisk Bergteknik AB (publ) (OM:NORB B) entered into a letter of intent to acquire Power Mining Oy for €16.2 million on December 22, 2022. The agreed preliminary purchase price amounts to €12.2 million with a possible additional purchase price of a maximum of €4 million which may be added depending on Power Mining's financial development over the next three years. As part of the transaction, Nordisk will also be acquiring the subsidiary company of Power Mining, Power Mining Sverige AB. The acquisition will be financed through own cash, existing credit facility and a seller promissory note, while parts of the purchase price will be reinvested in Nordisk Bergteknik in the form of shares, whereby the current owners become long-term owners in Nordisk Bergteknik. Power Mining reported sales of approximately €14.4 million on an annual basis. The transaction is expected to close in first quarter of 2023. Power Mining is estimated to contribute approximately €0.05 on earnings per share on annual basis based on the expected number of outstanding shares after the acquisition. Marcus Möller, Jasmin Wardi, Ari Natunen, Carola Möller, Marko Katainen, Samu Lassila and Vilma Piipponen of Krogerus Attorneys Ltd. acted as legal advisor to Nordisk Bergteknik AB (publ) (OM:NORB B).

Nordisk Bergteknik AB (publ) (OM:NORB B) completed the acquisition of Power Mining Oy on February 27, 2023. Magnus Örtorp of Setterwalls Advokatbyrå Ab acted as legal advisor to Nordisk Bergteknik AB (publ) (OM:NORB B).