AF Gruppen — M&A Activity 2017

Feb 22, 2017

AF Gruppen buys site in Trondheim for residential development

AF Gruppen buys site in Trondheim for residential development

Today Ladejarlen Utvikling AS has entered into a contract to

acquire 100% of the shares in the companies Jarlveien 15-19

AS, Gjevik Eiendom AS, Ladeveien 20 AS and Ladeveien 22 AS,

which own properties at Lade in the City of Trondheim. AF

Gruppen Norge AS, Stokke Industri Eiendom AS and

Prosjektpartner KSU each own 1/3 of the company Ladejarlen

Utvikling AS.

The acquired properties have a central and attractive

location at Lade in Trondheim. The properties have been

regulated for the construction of new buildings totalling

26,000 m2 gross area, of which 23,000 m2 will be residential

and up to 3,000 m2 commercial. In addition there will be

underground parking and storage spaces. The area has been

approved for between 300 and 400 flats.

Sales are planned to start in the summer/autumn of 2017, and

the estimated start of construction is autumn 2017/winter

The agreed price for the companies is NOK 163 million.

For further information:

CEO: Morten Grongstad, tel. +47 991 53 905

EVP Property and Energy, Andreas Jul Røsjø, tel. +47 481 96

998