Nordic private equity group Niam is selling a 72.5% stake in shoping centre operator Sektor Gruppen to an investor group consisting of Joh. Johannson (31%), Varner Invest (27%) and Home Invest (14.5%).
Nordic private equity group Niam is selling a 72.5% stake in shoping centre operator Sektor Gruppen to an investor group consisting of Joh. Johannson (31%), Varner Invest (27%) and Home Invest (14.5%).
The transaction value of the company was in excess of NOK 7 bn (nearly EUR 1 bn).
Sektor Gruppen is the second-largest shopping centre company in Norway with NOK 15.7 bn (EUR 2.15 bn) in annual turnover through its 26 owned, leased and managed shopping centres.
'Niam has worked actively with the highly skilled retail property management team within Sektor to continue building it into one of the leading shopping centre companies in Norway. We are also pleased to become partners with a financially strong investor group with a proven track record in Norwegian retail,' said Johan Bergman, CEO of Niam.
During the two-and-a-half years that Niam has owned the company, turnover has grown by 40% as a result of expansions, acquisitions, and new centres under management, he added. Niam will own 27.5% of the company in the future.
