Entra

M&A Activity • Mar 22, 2024

Signed binding agreement for sale of the Trondheim portfolio

22.3.2024 13:30:00 CET | Entra ASA | Additional regulated information required to be disclosed under the laws of a member state

Reference is made to the stock exchange release dated 1 February 2024 regarding a signed letter of intent to sell Entra's Trondheim portfolio. The parties have today entered into a binding agreement.

According to the agreement, Entra will sell its Trondheim portfolio containing 13 office properties totaling 187,268 sqm for approximately NOK 6.45 bn (the "Transaction"), which is 1 % below book values as of Q4 2023 adjusted for land lease obligations recognized in the balance sheet. The proceeds will be used to strengthen Entra's balance sheet.

In addition, Entra has agreed to sell the ongoing development project in Holtermanns veg 1-13 (phase 3) after completion. The project totals 15,500 sqm and is expected to be finalised in Q4 2025.

The Transaction is expected to close on 31 May 2024. The sale of the development project in Holtermanns veg 1-3 (phase 3) is expected to close in 2026.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Contacts

Anders Olstad, CFO, +47 900 22 559, ao@entra.no

Attachments

Download announcement as PDF.pdf