Autoliv Inc. is set to acquire the remaining shares of its Estonian subsidiary, Norma, to enhance its foothold in the automotive safety market, particularly in Russia.

Information on the Target

Autoliv Inc. has announced its intention to acquire all outstanding minority shares in its Estonian subsidiary, Aktsiaselts Norma. Currently, Autoliv holds a 51% stake in Norma, which is recognized as a leading supplier of automotive safety products within the Russian market. In the previous year, Norma achieved sales of €50 million and employed approximately 600 staff members. The shares of Norma are publicly listed on the Tallinn Stock Exchange, and the acquisition would require a total expenditure of about $50 million for the remaining 49% of shares.

This strategic move is backed by commitments from shareholders representing 26.4% of Norma’s outstanding shares, who have agreed to sell their stakes in the upcoming tender offer. The offer from Autoliv is contingent upon obtaining at least 90% ownership of Norma, which will be executed through AS Automotive Holding, a wholly-owned subsidiary of Autoliv.

Industry Overview

The automotive industry in Estonia has shown resilience and growth potential, primarily driven by a strong demand for automotive safety solutions. As vehicle manufacturers increasingly prioritize safety, suppliers like Norma have the