Financial advisers appointed for privatisation of Entra

Entra and the Norwegian Ministry of Trade, Industry and Fisheries have appointed ABG Sundal Collier, Goldman Sachs and Swedbank as financial advisers for the privatisation of Entra.

The financial advisers will consider various strategic alternatives in order to bring other investors into Entra. The Norwegian state is currently the only shareholder in Entra Holding AS. The Norwegian Ministry of Trade, Industry and Fisheries has chosen DNB Markets as its independent financial adviser and Wikborg Rein & Co as legal adviser.

“I am very pleased that we are able to start the privatisation process for Entra. Entra has a leading position in the Norwegian commercial property market with a unique portfolio of tenants and with a solid track record of successful real estate development.

Entra is well prepared for the privatisation process and we expect considerable interest in the company. We will work closely with Entra and the financial advisers to assess different privatisation options, ensuring that the best financial outcome is achieved for the State” says Monica Mæland, Minister of Trade and Industry.

Potential exit options for the State include an IPO as well as a sale of shares to a strategic buyer.

“We have a close dialogue with the Ministry of Trade, Industry and Fisheries regarding the privatisation process. I am pleased that we now have appointed a strong team of financial advisers to support the privatisation process of Entra. We look forward to making our contribution to ensure a successful outcome for the company and the State,” comments Siri Hatlen, Chair of Entra.

Facts about Entra:

Entra is one of Norway’s leading property companies. The company develops, lets and manages attractive and environmentally leading buildings, and engages in active portfolio management with the purchase and sale of properties. The company owns and manages approximately 1.2 million square metres divided between more than 100 buildings. Each day more than 30,000 people work in buildings owned by Entra. At the end of the fourth quarter of 2013 the real estate portfolio had a market value of approximately NOK 25 billion. Entra is owned by the Norwegian Ministry of Trade, Industry and Fisheries.

For further information, please contact:

Klaus-Anders Nysteen, CEO. Mob. + 47 992 65 691, mail: kan@entra.no
Arve Regland, CFO. Mob. +47 479 07 700, mail: ar@entra.no
Ragnhild H. Simenstad, Communications Adviser, Ministry of Trade, Industry and Fisheries. Mob. +47 917 17 459, mail: rsi@nfd.dep.no.