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Balder invests together with Anthon B Nilsen Eiendom in Norway

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Fastighets AB Balder is acquiring 50 percent of the Norwegian company Anthon B Nilsen Eiendom AS. The transaction includes the Anthon B Nilsen Group’s total real estate portfolio with properties in Oslo and in Lahaugmoen, and also a development portfolio of 170,000 sqm in eastern Norway. The market value of the properties that are included in the transaction is about NOK 3,000m.

- With Balder as a joint owner, we gain the strength to move the business up a level in Norway. We will gain the financial strength to be able to compete for, and complete, larger and more comprehensive development projects. This will be positive in the long term for the Norwegian property market, for our employees and for us as owners, says CEO Peder Chr. Løvenskiold.

Erik Selin believes that Balder to date has not found the right solution in order to establish a strong presence in the Norwegian market.

- We have made a few investments in Oslo and Inland, but we have not established a larger presence, like we have in Denmark and Finland. Through the investment in Anthon B Nilsen Eiendom and with the portfolio and organisation they have developed, we will gain access to many attractive investment opportunities from the transaction. Quite simply, it feels really great to be able to become a joint owner and welcome ABN to the Balder family, says Erik Selin.

- With Balder as a joint owner, we also gain access to expertise and experience from segments where Anthon B Nilsen has not yet secured a foothold, e.g. the residential and hotel market, says Løvenskiold.

Facts about Anthon B Nilsen Eiendom AS:

  • Anthon B Nilsen Eiendom AS is an ambitious company within property development and property management. The business concept is to acquire and develop sites and buildings into areas with a level of quality that will hold up in the future.
  • Property values: approx. NOK 3 billion
  • Development areas: 170,000 sqm
  • Area: 60,000 sqm
  • Number of employees: about 20 people
  • Website: www.abne.no

The company is expected to be taken into possession during the fourth quarter of 2020, subject to the authority's approval.

For additional information, please contact:
CEO Erik Selin, phone +46 706 07 47 90 or
Head of Finance Marcus Hansson, phone +46 31 109594

Fastighets AB Balder is a listed real estate company which shall meet the needs of different customer groups for premises and housing through local support. Balder's real estate portfolio had a value of SEK 149.3 billion (129.2) as of 30 June 2020. The Balder share is listed on Nasdaq Stockholm, Large Cap.

Fastighets AB Balder (publ)
PO Box 53 121, 400 15 Gothenburg
Tel: +46 31 10 95 70
Corporate Identity No. 556525-6905, Registered office Gothenburg
balder.se

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