Aurora Eiendom AS (OB:AURA) entered into a share purchase agreement to acquire Gulskogen and Arkaden from Steen & Strøm As on June 22, 2022. Transfer of the two shopping centers Gulskogen and Arkaden, in addition to 25 per cent of Maxi is valued at NOK 2.6 billion. In a similar transaction Aurora Eiendom enetered into agreement to acquire 25% of Maxi. The purchase price in connection with the Acquisition will be financed by a mix of debt and equity. Aurora has obtained commitment for debt financing from Danske Bank. Aurora also owns a 50 per cent share of a leading real estate management company, Alti Forvaltning AS. Alti adds Gulskogen, Arkaden and Maxi to the portfolio of centers under its management. The Acquisition is estimated to close during July 2022.
Pangea Property Partners AS acts as the buy-side advisors in the Acquisition. Ro Sommernes advokatfirma DA acts as legal advisor and Storm Communications as communications advisor to Aurora in connection with the Acquisition.