Through its Meteva AS company, investor and philanthropist Trond Mohn of Bergen owns 34% of ML 33 Invest, which owns the Equinor building in Fornebu.
As part of an investor union established by Arctic Securities, he helped buy the building for NOK 3.9 billion from Madison International in 2016.
Early in March, it became known that Mohnh was considering selling all or part of its shareholding.
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First, however, he had to get approval from the owners on a five-year bond loan that was issued as part of the transaction.
The loan agreement included a clause according to which Mohn owns at least 34% of the issuing company, and therefore a shareholders' meeting was called to try to remove it.
As compensation, bondholders would receive a one-time payment of one percent of the nominal value, which is NOK 682 million.
It was good enough for bondholders who gave full support to the proposal, according to recent minutes.
Thus, Mohn is trusted to get rid of his connection to the Equinor building if he so desires.
Other co-owners of the building at the turn of the year were the Swedish hedge fund Norron, where Kjell Inge Røkke is the warehouse, the Watrium investment company belonging to the Wilhelmsen family and the investment company Anaxo Capital.
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The market value of the building was valued at NOK 4.2 billion in 2018 – over NOK 300 million more than the Arctic syndicate paid in 2016.
If Mohn sells his third party, he can get a gain of about 100 million Norwegian kronor.
In that case, it will not be the first time that the billionaire makes a lot of money by buying and selling commercial buildings.
Two years ago he sold the DNB building in Bjørvika to Statistics Norway for NOK 4.3 billion – NOK 400 million more than he gave a little more than a year earlier.
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The case was first published in Hegnar.no