Norwegian renewable energy company Statkraft has agreed to purchase a 51% stake in Swedish electric vehicle (EV) charging company Bee Charging Solutions (Bee).

With more than 2,000 public charging points, Bee is said to be one of the key charging companies in Sweden and holds an almost 20% market share.

The financial terms of the deal have not been disclosed.

Existing Bee Charging Solutions stakeholders Öresundkraft, Jämtkraft, and Tekniska Verken will retain a 49% stake in the company.

Through this deal, Statkraft’s Swedish charging business Grön Kontakt and Bee Charging Solutions are expected to become one of the biggest EV charging station operators in Sweden and will operate under the Mer Sweden brand name.

Going forward, Mer Sweden will join Mer’s portfolio of charging companies located in Norway, Germany, and the UK.

Kristoffer Thoner has been appointed as the new CEO to lead the growing portfolio of companies.

Thoner said: “I look forward to taking on the task and together with the rest of the organisation, as well as our new colleagues in Bee, creating the best and most consumer-oriented electric car charging company in Europe.”

The deal’s completion is subject to the approval of the competition authorities and is expected to close in the second quarter of this year.