Announced
Financials
Sources
Tags
Pending
Friendly
Norway
Acquisition
Real Estate Holding and Development
Majority
Private
Single Bidder
Domestic
real estate company
Synopsis
Entra, an owner, manager and developer of office properties in Norway, agreed to acquire Oslo Areal, a Norwegian real estate firm, from Gjensidige, an insurance company, and AMF Pensionsforsakring, a Swedish pension provider, for $1.47bn. “Oslo Areal holds an attractive office portfolio with a project pipeline which is complimentary to Entra’s existing portfolio. We see Oslo Areal as a smaller version of Entra and the company will significantly strengthen Entra’s market position in Oslo. The transaction will create shareholder and tenant values far beyond regular single-asset transactions," Sonja Horn, Entra CEO.
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