Orkla sells property

Orkla's Real Estate section has signed an agreement to sell the property Karenslyst allé 12-14 at Skøyen in Oslo. The purchase is arranged by Fearnley Finans, and the purchase amount is NOK 410 million. An interest in the car park close to the property will also be taken over for NOK 14 million.

Date of settlement and possession will be 1 July 2004. The accounted gain for Orkla will be NOK 181 million for the real estate and NOK 7 million for the interest in the car park. The buyer will take over a long-term leasing contract with PriceWaterhouseCoopers (PWC), in addition to several minor leasing contracts.
 
Fearnley Finans has syndicated the property through the company Karenslyst allé 12-14 KS.
 
- Signals have been giving for a while regarding a sale of this property, and we are pleased with the agreement we now have signed, says Kristian Eriksen, Manager of Real Estate in Orkla.