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Telenor is selling its head office in Fornebu to Norwegian Property for NOK 5 billion. At the same time, Telenor will lease parts of the building for 25 years.
The case is being updated.
On Tuesday, Norwegian Property signed an agreement with Telenor Real Estate AS for the purchase of the Telenor building in Fornebu. Featured in a Norwegian Property listing.
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Acquisition in December
The company writes that the acquisition will take place during December 2020, after approval from the competition authorities. The gross value of the property is NOK 5.45 billion, while the purchase price is approximately NOK 5 billion.
– We are satisfied with the agreement with Norwegian Property and look forward to continuing our journey at Snarøyveien 30 as tenants. We are confident that Norwegian Property will continue to develop this signal building and Telenor will remain in Fornebu for the long term, says Telenor CFO Tone Hegland Bachke, according to NTB.
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You will benefit over time.
Telenor claims that the company frees up capital through sale for “other value creation purposes.” Over time, Telenor’s costs as a tenant will be lower than current ownership costs, the stock exchange announcement states.
The accounting profit is established at NOK 1.3 billion.
Telenor inaugurated the Fornebu building in 2002. It has 40,800 square meters of offices.
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