Solon Eiendom ASA ("Solon" or the "Company") has today entered into an agreement for the sale of Solon's 49 % stake in Solon Realkapital AS ("Solon Realkapital") to Vatne Property AS (the "Transaction"). Vatne Property AS is a 100 % owned subsidiary of Vatne Capital AS (collectively "Vatne Capital ") which is fully owned byRunar Vatne who holds approximately 25 % of the shares in Solon throughVatne Capital and privately. The sales price for Solon's 49 % stake is Solon's cost price which is based on fair market value, and will be recorded in Q1 2020. Solon's share of interest-bearing debt in Solon Realkapital is approximatelyNOK 40 million . Closing is expected on 8 january and will provide cash proceeds to Solon of approximatelyNOK 7 million . The Transaction is part of Solon's review of strategic alternatives as announced in the stock exchange announcement on7 September 2020 . Solon's review of strategic alternatives continues after the divestment of the stake in Solon Realkapital. About Solon Realkapital Solon Realkapital was a 49/51 joint venture between Solon and Vatne Property AS established to acquire residential apartments in Solon and other residential developers projects for the purpose of letting and/or resale. Solon Realkapital's portfolio currently consists of 114 units across three different Solon projects, whereof 19 units were delivered in Q4 2020 and 95 units will be delivered when completed. For more information, please contact:Andreas Martinussen , Chief Executive Officer Phone: +47 400 00 405, e-mail: am@soloneiendom.noScott Danielsen , Chief Financial Officer Phone: +47 952 55 620, e-mail: sd@soloneiendom.no This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
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