Niam acquires Sektor EiendomsUtvikling

Niam AB, acting on behalf of Niam Fund IV, has entered into agreement with Sektor Gruppen to acquire Sektor EiendomsUtvikling AS.

Sektor EiendomsUtvikling AS is one of the largest owners of shopping centers in Norway. The company owns, develops, promotes and manages a portfolio totaling 28 shopping centers and retail properties in Norway, including 5 shopping centers which will be managed on behalf of Storebrand from 1 January 2011 and onwards.

Following the transaction between Sektor Gruppen AS and Niam AB, 13 shopping centers will be in complete ownership of Sektor EiendomsUtvikling, whereas two centers are rented and the remaining 13 centers will be operated by the company on behalf of other owners. The owned and rented shopping centers comprise in total around 365,000 square meters.

The transaction is expected to be closed by mid-April 2010.

For further information please contact: Johan Bergman, Managing Director, Niam AB +46 8 5175 8595