ABGSC acted as Financial Advisor to Store Norske in the acquisition of Hurtigruten Group’s real estate portfolio on Svalbard +

On 29 March 2021, Store Norske Spitsbergen Kullkompani AS (“Store Norsk”) announced that it had entered into an agreement to acquire Hurtigruten Group’s real estate portfolio on Svalbard. The real estate portfolio comprises three hotels, office facilities, 40 apartments and two large retail premises in Longyearbyen, with a total lettable area of approx. 40.000 sqm. The total value of the transaction is NOK 690 million of which NOK 105 million is dependent on Hurtigruten Svalbard’s sales performance.
The transaction is expected to be closed during Q2 2021.