Monday, December 03, 2007

Hafslund Enters $125.7 Million Sale Leaseback of 34 Properties Throughout Norway

Hafslund Web Site - December 3, 2007

Hafslund, Norway's largest power distribution utility, has sold 100 percent of the shares in the company Hatros II AS to the Oslo Pensjons Forsikring AS, for a total of NOK 728 million, equivalent to a property value of NOK 694 million. The company is a single purpose company with 34 properties in Oslo and Akershus. The properties mainly consist of transformer stations with surrounding areas.

Hafslund Nett AS will lease back the main part of the properties for a period of 15 years, with an option for extension, and will be responsible for the technical and building related maintenance of the properties during the period.

The sale gives an accounting profit before tax of about NOK 500 million. Sphere: Related Content

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