Aker Inks $140M Deal For Land Parcel Near Oslo

Law360, New York (November 8, 2011, 4:38 PM EST) -- Norwegian investment company Aker ASA will purchase 969,000 square feet of land from developer Fornebu Utvikling ASA for 780 million kroner ($140 million), taking advantage of one of the few areas near Oslo with space available for development, the firm said Tuesday.

Aker, which already has substantial investments in Fornebu and the greater Oslo area, said it would purchase the space in part with cash and in part with debt financing that it is working to acquire.

The land is located in Fornebu, a suburban peninsula...
To view the full article, register now.