Telenor to sell properties for NOK 1.4 billion

Telenor headquarters, Bulgarian MPTelenor headquarters.Photo: Norway Today Media

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Telenor to sell 85 properties, worth a total value of NOK 1.4 billion. The company will then lease the properties for five years.

The sale will take place around September 1, Telenor said in a stock exchange announcement.

The buyers are Fagerstad Utvikling AS, Fredensborg AS, Fredensborg Bolig AS, Johan Johannson Eiendom AS and Norgesgruppen Eiendom AS.

The value of NOK 1.4 billion includes NOK 360 million to Telenor’s Pension Fund and an additional consideration related to future development and area. Payment of additional remuneration is expected within 4 years.

Telenor’s accounting gain will be approximately NOK 500 million.

© NTB Scanpix / #Norway Today

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