Danish real estate firm Sjælsø has signed an agreement to sell its business in Norway to contractor and developer Kruse Smith. The companies agreed to keep financial details confidential.
Danish real estate firm Sjælsø has signed an agreement to sell its business in Norway to contractor and developer Kruse Smith. The companies agreed to keep financial details confidential.
The acquisition includes all Sjælsø’s activities in Norway, including the pipeline of future projects and the staff, the company said.
The sales price is partly conditional on gaining planning permission for specific projects during 2012 and 2013.
'In connection with the upcoming initiation of several larger projects in Sjælsø Norge's pipeline, Sjælsø has assessed that it would be most appropriate to sell all the activities in Norway to a strong local developer instead of completing the projects on our own,' commented Flemming Joseph Jensen, CEO of Sjælsø.
