Orkla sells Skøyen property

15.03.2005: Orkla's real estate company, Orkla Eiendom, has entered into an agreement to sell the properties Karenslyst allé 8 a and b at Skøyen in Oslo for NOK 194 million. The buyer is Oslo Areal ASA.

Settlement will be made and the property will be taken over on 15 March. The accounting gain for Orkla is NOK 101 million. Oslo Areal ASA has applied for listing on the Oslo Stock Exchange. Ten percent of the proceeds of the sale will consist of shares in the purchasing company, and Orkla Eiendom will thereby be a shareholder in the company. The buyer will take over the current leases, which include the shipping companies Western Bulk and I.M. Skaugen and the office hotel Regus as well as certain smaller tenants.
 
"We have been indicating for some time that these buildings were for sale and are well satisfied with the agreement that has now been signed," says Kristian Eriksen, Director of Orkla Eiendom.