Telenor - NOK 1,400 million - Portfolio Sale

Arctic Securities has, together with Union Norsk Næringsmegling, acted as sell-side adviser to Telenor ASA and Telenor Pensjonskasse in relation to the sale of a non-core real estate portfolio comprising 85 properties with significant exposure to development opportunities in Greater Oslo. The portfolio was sold to an industrial consortium consisting of FagerStad Utvikling AS, Fredensborg AS, Fredensborg Bolig AS, Johan Johannson Eiendom AS and Norgesgruppen Eiendom AS for a gross purchase price of NOK 1.4 bn after a contemplated structured sales process.

The divestment is part of Telenor’s simplification and modernization program, and encompasses properties that are not needed once the planned decommissioning of the copper network is completed.

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