Letter of intent to acquire Eltel’s Swedish rail operations
On 12 March, Eltel and Strukton Rail AB signed a letter of intent that Strukton Rail will take over Eltel's railway operations in Sweden, consisting of key customer contracts, employees and operational equipment.
The parties aim to finalise and complete the transaction in the first quarter of 2018.
After the transaction, Eltel will enter into a subcontractor agreement with Strukton Rail AB for the completion of rail-related contracts that are expected to be completed during 2019.
Strukton in Sweden
Strukton Rail took its first major step to Sweden in 2003 by acquiring a majority interest in Svensk Banproduktion. The Swedish company now operates under the name of Strukton Rail AB and has developed into Sweden’s biggest private rail maintenance company, active in both heavy rail and light rail. The company has approximately 850 employees.
The letter of intent for Eltel’s Swedish activities follows the acquisition of Eltel’s Danish rail business operations to Strukton Rail A/S in January 2018.