June 5, 2019 / 6:27 AM / 5 months ago

Norway cuts stake in property firm Entra for NOK 2.5 bln

OSLO, June 5 (Reuters) - Norway reduced its stake in property company Entra by selling an 11% stake for 2.5 billion crowns ($288 million), the industry ministry said on Wednesday, as part of the centre-right government’s privatisation push.

After the transaction, the Norwegian state will keep a 22.4% stake in the firm, one of the leading property companies in the Nordic country.

The buyers are “existing and new shareholders in Norway and abroad,” the industry ministry said in a statement, without naming them. ABG Sundal Collier, Carnegie and UBS advised the ministry.

$1 = 8.6812 Norwegian crowns Reporting by Gwladys Fouche, editing by Terje Solsvik

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