CBRE Investment Management, through its private infrastructure team, has agreed to acquire Torghatten Land, one of Norway’s largest bus operators, on behalf of one of its funds as well as some of its separately managed accounts.
Torghatten Land comprises Norgesbuss, Trønderbilene, Torghatten Buss, Sørlandsruta, Fosen Verkstedservice and TTS Bil-og, Dekksenter.
This is CBRE Investment Management’s third infrastructure investment completed in the Nordics since 2019.
“The board has over a period of time received inquiries from several parties for Torghatten Land, highlighting the potential for the bus division to be a stand-alone entity,” said Roger Granheim, CEO of Torghatten. “The transaction was therefore initiated on the back of several offers, and as such is not a result of an active and structured sales process.”
Torghatten Land provides public bus services for public transport authorities and, to a limited extent, commercial bus services
