Thommessen has acted as legal advisor to the buyers in the NOK 7,7 billion carve-out acquisition of Veidekke Eiendom from Veidekke.
On 16 June Veidekke ASA announced the sale of its property development business in Norway and Sweden ("Veidekke Eiendom") to Residential Holding, a consortium comprising Fredensborg AS, Norwegian Property ASA and Union Real Estate Fund III Holding. Thommessen has acted as legal advisor to the buyers in the NOK 7,7 billion carve-out acquisition. Following the transaction, Norwegian Property and Fredensborg will become equal partners in Veidekke Eiendom with a share of 42.5 % each, while Union will own 15 %.
In addition to Thommessen, the consortium's advisers were Arctic Securities, DNB Markets, PWC and the law firm Vinge in Sweden. The transaction is expected to be completed during September 2020.
Photo credit: Veidekke