Norway’s Komplett to Buy Sweden’s NetOnNet in $420 Million Deal

Norway’s Komplett ASA agreed to acquire NetOnNet AB in a deal that values the Swedish e-retailer at 3.7 billion kroner ($420 million) to create the second-biggest electronics retailer in the Nordic region.

Komplett is buying the shares from SIBA Invest AB, NetOnNet’s sole shareholder, for 1.5 billion kroner in cash and 35.2 million of its own shares, the companies said in a statement. The combined company will have a market share of around 10% in the Nordics, second only to Elkjop, part of Currys Plc, according to the statement.