Norwegian telecom firm Telenor TEL.OL has agreed to sell its headquarters building in Oslo to Norwegian Property NPRO.OL for about 5.45 billion crowns ($587.56 million), the company said on Tuesday.
The state-controlled company said it would lease back parts of the buildings for 25 years as part of its “simplification” programme, recording an accounting gain of about 1.3 billion crowns.
“Through this transaction, Telenor unlocks capital for value-creating corporate purposes,” the company said in a statement.
Norwegian Property is controlled by Norwegian-born shipping tycoon John Fredriksen. Nasdaq