Schibsted Agrees to $54.5 Million Sale Leaseback of Office Building in Oslo

Schibsted Web Site - March 23, 2007

Schibsted ASA has, through its fully owned subsidiary Schibsted Eiendom AS, accepted an offer from Aberdeen Property Investors Norway AS, on behalf of a client, concerning the sale of an office building in Apotekergaten 10 in Oslo for NOK 334 million. The accounting gain for Schibsted will be slightly lower than NOK 200 million. Schibsted will enter into a lease agreement for seven years with the option to extend the agreement for five plus five years. A final agreement is under negotiation, and the transaction is expected to be finalized during the second quarter of 2007. Sphere: Related Content