AF Gruppen

Environmental & Social Information • Sep 23, 2020

Acquiring 50 % of Oslo residential project with ambitious environmental goals

Acquiring 50 % of Oslo residential project with ambitious environmental goals

AF Gruppen has signed an agreement to acquire 50 % of the shares in the company Fyrstikkbakken 14 AS. The company owns property close to Bryn railway station and Hellerud metro station where the development of 160 homes is planned.

This project is under development by Birk & co and falls under the FutureBuilt framework scheme, with a permitted gross area of 13,200 m2. FutureBuilt aims to realise projects in and around Oslo that can serve as role models by achieving a reduction of at least 50 per cent in terms of greenhouse gas emissions from transport, energy consumption and use of materials. Birk & co will remain part of the project and will retain the remaining 50 % stake.

The agreed price for the shares is NOK 78.5 million. The agreement is currently subject to the completion of due diligence. Completion on the transaction is expected to take place in November 2020.

For further information:

CEO, Amund Tøftum, tel. +47 920 26 712

EVP Property, HR and Communication, Ida Aall Gram, tel. +47 918 00 826