Reference is made to the stock exchange announcement of 22 March 2010 regarding the signing of a final agreement with Veidekke Eiendom AS, about a 50/50 ownership in Veifor AS for the development of the property area 8.6/ 8.7 in Fornebu.
50 % of the shares in Veifor has today been transferred from Fornebu Boligspar AS, a 100% owned subsidiary of FBU, to Veidekke Eiendom. At the same time, Veifor has acquired the residential property area 8.6/ 8.7 from Fornebu Boligspar for MNOK 140.
Veifor will develop approx. 25 000 sqm residential property which includes more than 300 homes centrally located at Fornebu. Sales start is expected in Q1 2011, with completion at the end of 2012.
For further information, please contact:
CEO Morten Grongstad, tel: +47 99 15 39 05
This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act)