Sektor Group-owners to buy out Niam

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Niam withdraws from Norwegian Sektor Group and divests the remaining shares to the other owners.

Sektor Group owners consisting of Joh. Handel Eiendom 1 AS, Varner Invest AS and K & S Holding AS has today signed an agreement to purchase Niam IV Holding’s stake of 27.5 percent in the company.

Niam IV bought Sektor Group in 2010, but reduced its stake from 100 to 27.5 percent in 2010, and it is this shareholding that is now purchased by the other owners.

Niam Fund IV is one of several real estate funds managed by NIAM.

Sektor Group says it will continue the good cooperation with NIAM through the existing management agreements with Niam Fund V containing centers Stadionparken in Stavanger, Strandtorget at Lillehammer and Torget Väst and CC Drammen in Drammen.

Parties do not wish to disclose the sales price.