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PR(05)07: The EFTA Surveillance Authority clears public sale of 1744 rental apartments in Oslo

14.3.2005

The EFTA Surveillance Authority has decided that the conditions of the sale of 1744 rental apartments from the Municipality of Oslo to Fredensborg Boligutleie ANS do not involve state aid. Such aid could be comprised if the sale had been carried out at less than market value. The sale was concluded in May 2001 and the sales price was NOK 715 Million (approximately EUR 89 Million). The Authority found that the Municipality of Oslo did not follow a sales procedure that would have automatically excluded the existence of state aid. In addition, several largely diverging value assessments were prepared by Norwegian authorities as well as private interests. These factors led the Authority to undertake a further investigation.

Having assessed how the sales process evolved, having looked into the various appraisals made and also having commissioned a separate study, the Authority has concluded that the transaction took place without state aid being granted.

For further information, please contact Mr. Amund Utne, Director Competition and State Aid Directorate, tel. (+32)(0)2 286 18 50.

14 March 2005




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