EN
Norwegian Property has entered an agreement for the sale of Kokstadveien 23 in Bergen for a property value of NOK 230.8 million. The buyer is Aberdeen Pan-Nordic Norway AS. Kokstadveien 23 has been Norwegian Property's only property in Bergen, and the sale is in line with Norwegian Property's strategy to actively develop the portfolio and dispose of non core properties.
Announcements
NPRO - sells non core property
18.12.2007
Norwegian Property has entered an agreement for the sale of Kokstadveien 23 in Bergen for a property value of NOK 230.8 million. The buyer is Aberdeen Pan-Nordic Norway AS. Kokstadveien 23 has been Norwegian Property's only property in Bergen, and the sale is in line with Norwegian Property's strategy to actively develop the portfolio and dispose of non core properties.
A gain of NOK 9 million before tax will be realised in the fourth quarter. NOK 46 million in positive cash flow will be released after the repayment of debt relating to the property.
The transaction will be completed on 31 December 2007.
For further information, please contact,
Mona Ingebrigtsen, Vice President acquisitions/sales/development, mobile +47 90 55 11 04
Svein Hov Skjelle, CFO, mobile +47 93 05 55 66