New headquarters for Orkla

Orkla has bought the properties at Drammensveien 149 and 151 in Skøyen with a view to building  a new headquarters and grouping Orkla's operations in the Oslo area at the same location. The move to the new premises is planned to take place in the course of 2016.

Orkla ASA has concluded an agreement to purchase the properties at Drammensveien 149 and 151 in Oslo for NOK 695 million. The seller is Norwegian Property ASA.

Drammensveien 149 is presently the site of an office building, while Drammensveien 151 was previously a petrol station. The site is currently used as a parking lot.

Orkla now plans to apply for rezoning of Drammensveien 151 for the construction of a new office building. This building, and the existing office building at Drammensveien 149, will become Orkla's new corporate centre and headquarters, to which Orkla expects to move in the course of 2016.

Work has begun on the process of finding alternative uses and solutions for Orkla's office premises in the Oslo area.

 "Orkla companies in the Oslo area and the corporate centre are to be grouped in one place. It is important that they are in the same location in order to be able to develop Orkla into an even more dynamic branded consumer goods company. Our ambition is to build an attractive, modern office building that will facilitate the exchange of experience and expertise within the organisation. In addition, we will be freeing up other office buildings that have a high market value. All in all, this transaction will make good financial sense for Orkla," says President and CEO  Åge Korsvold.

Drammensveien 149 and 151 are centrally located in the Skøyen district of Oslo. The offices will have direct access to the Ring 2 highway and lie within walking distance of buses, trains and taxis. The properties are expected to be taken over in early March 2013.

Orkla's Chairman of the Board, Stein Erik Hagen, owns 10.8 per cent of the shares in Norwegian Property through his family company Canica.

Orkla ASA
Oslo, 7 February 2013

Ref.:
Executive Vice President Corporate Communications and Corporate AffairsHåkon Mageli
Mobile [phone]

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Source: Orkla ASA via Thomson Reuters ONE

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