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State Aid

State Aid: No aid involved in the sale of four properties in Oslo

16.6.2016

PR(16)27

EN  | NO

The City of Oslo's sale of four properties in Hauskvartalet in central Oslo does not constitute state aid, according to a decision taken by the EFTA Surveillance Authority (ESA).

In November 2014, the City of Oslo, through a real estate agent, placed ads in the national press concerning the sale of four properties in Hauskvartalet. A bidding procedure was held and on 27 May 2015, the Agency of Real Estate and Urban Renewal accepted the highest bid. However, the contract makes the actual transfer of the land conditional on a formal decision of acceptance from the City Council as well as a decision from ESA not to raise objections.

To obtain legal certainty as to whether the sale is in accordance with EEA rules, the Norwegian Authorities notified the sale to ESA. A complete notification was received on 22 April 2016.

After assessing the sales procedure, ESA has concluded that it was unconditional and comparable to an auction. The highest bid was accepted, which was also the only bid made without any reservations, and the only bid to include adequate documentation. The bid was also considerably higher than the independent expert valuation of the properties and the market value estimated by the real estate agent.

A public version of the decision will be published on ESA's website, normally within a month.

For further information, please contact:

Øyvind Bø
Acting Head of Communications
tel: (+32)(0)2 286 18 36
mob: (+32)(0)489 92 77 55




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