Thursday, September 11, 2008

Norske Skog Completes $75 Million Sale Leaseback of HQ in Norway

Reuters - September 9, 2008

Norwegian papermaker Norske Skog (NSG.OL) has sold its headquarters for 429.5 million Norwegian crowns ($75.76 million) and will book a gain of 230 million in the fourth quarter from the property sale, it said on Tuesday.

'The sale of the property is part of the work efforts to reduce Norske Skog's debts,' the company said in a statement.

Norske Skog simultaneously signed a lease agreement on the Oxenoen property in Lysaker with the new owners, Aspelin Ramm and Oslo housing and savings society OBOS, enabling it to stay in the building for some time, the company said. Sphere: Related Content

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