NPRO: Norwegian Property acquires Veidekke Eiendom together with partners
Norwegian Property, through NPRO Holding AS, buys Veidekke Eiendom together with Fredensborg AS and Union Real Estate Fond III Holding AS (together the «Investor Group»). NPRO and Fredensborg will be equal partners with 42.5% each, and Union will own 15%. In total, the Investor Group becomes 100% owners of Veidekke Eiendom AS and Veidekke Eiendom AB (together "Veidekke Eiendom"). The Investor Group will together fund NOK 2.6 billion in new equity, and Veidekke Eiendom will be financed with 5.7 billion of debt. The transaction is expected to be completed during September 2020. At the