Norwegian real estate firm Entra said on Friday it had agreed to buy rival Oslo Areal for 13.55 billion Norwegian crowns ($1.48 billion), in the latest twist of consolidation in the Nordic real estate sector.
Entra is itself subject to a $4.1 billion bid from Swedish rival Balder with a deadline for owners to accept or reject the offer by Dec. 7, but it remains unclear if that takeover will succeed.
Oslo Areal’s joint owners, Norwegian insurer Gjensidige and Swedish pension provider AMF Pensionsforsakring, in late October said they were contemplating a sale of the firm, of which they each own 50%.
Castellum recently bought Swedish competitor Kungsleden in a deal worth $3.1 billion.
Read more/Source: Reuters
