NCC Sells Oslo Project for SEK 540 Million.Business Editors STOCKHOLM, Sweden--(BUSINESS WIRE)--June 19, 2000 NCC NCC See National Clearing Corporation (NCC). Norway has concluded an agreement with Kontorbygg Holding I AS regarding the sale of the Sorkedalsveien 6 project in Oslo, Norway, for SEK SEK In currencies, this is the abbreviation for the Swedish Krona. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. 540 million. The sale will generate a development gain of SEK 70 2 million. NCC Norway will build a new 17,500-m office building at the Sorkedalsveien site. NCC Norway acquired Sorkedalsveien 6 in central Oslo in March 1999. At that time, it was the site of the old Philips building, which originated from 1957. During 1999, a decision was taken to demolish de·mol·ish tr.v. de·mol·ished, de·mol·ish·ing, de·mol·ish·es 1. To tear down completely; raze. 2. To do away with completely; put an end to. 3. the property and construct a new 18-story office building. At the same time, an agreement was concluded with KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , the tenant that occupied most of the building. The Philips building was demolished de·mol·ish tr.v. de·mol·ished, de·mol·ish·ing, de·mol·ish·es 1. To tear down completely; raze. 2. To do away with completely; put an end to. 3. on April 30 this year, by means of a spectacular blasting program that attracted considerable media attention. "Offering investors attractive development projects in expanding Nordic markets is part of our strategy," says Magnus Mannesson, President of NCC Real Estate. The new office building is scheduled for completion during autumn 2001. The development gain will be included in NCC Real Estate's profits for the second quarter of 2000, under the real estate development business. For further information, please contact: Magnus Mannesson, President of NCC Real Estate (Tel: +46-8-655 22 75) Stein Stein , William Howard 1911-1980. American biochemist. He shared a 1972 Nobel Prize for pioneering studies of ribonuclease. Haugbro, Administrative Director, NCC Eiendom (Tel: +47-22 98 69 55 or +47-950 26 210) All NCC:s pressreleases can be found on www.ncc.se ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/06/19/20000619BIT00290/bit0001.doc http://www.bit.se/bitonline/2000/06/19/20000619BIT00290/bit0002.pdf |
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