Property purchase

DNB Liv has entered into an agreement to purchase the DNB Group's new head office in Bjørvika in Oslo.

Based on the current value of the Norwegian krone, the property is valued at just under NOK 4.8 billion. The gross yield during the first year will be just over 5.3 per cent. The purchase has been made by DNB Livsforsikring ASA and DNB Scandinavian Property Fund. Each of the buildings will be taken over upon completion, starting with the first and middle building on 1 July 2012. DNB Bank is the lessee of all the buildings, and the lease agreement will run for 15 years from the time of delivery, with an option for a 5 + 5 year extension.

 

This information is subject to the disclosure requirements according to Section 5-12 of the Norwegian Securities Trading Act.