DNB Livsforsikring AS and Olav Thon Eiendomsselskap ASA have since 2008 jointly
owned and developed Sørlandssenteret, each with a 50 % share. The parties are in
agreement that Olav Thon Eiendomsselskap ASA shall continue the ownership alone.
 

Sørlandssenteret, which is located 12 km north-east of Kristiansand, is the
largest shopping center in Agder. In 2021, the total tenant turnover was NOK 2.8
billion, and Sørlandssenteret was thus Norway's 5th largest shopping center in
terms of turnover. In 2021, the center achieved rental income of NOK 128
million.

The CEO of DNB Næringseiendom, Gro K. Boge, states: "DNB Life Insurance has had
a wonderful journey together with Olav Thon since the merger and our
establishment of the new Sørlandssenteret in 2008. The development has been very
positive, and our collaboration has been good, but now it's time for one owner
to continue. DNB Livsforsikring is sure that Olav Thon Eiendomsselskap will
further develop the center in the best possible way for the future."

The CEO of  Olav Thon Eiendomsselskap, Dag Tangevald-Jensen, says: "Olav Thon
Eiendomsselskap would like to thank DNB Livsforsikring for the good cooperation.
We will do our utmost to ensure that Sørlandssenteret remains the region's best
destination for great shopping experiences."

The takeover is planned for early January 2023 and is, among other things,
subject to board approval, both on the seller's and buyer's side.

For Olav Thon Eiendomsselskap ASA

Arne B. Sperre
CFO
Tel: + 47 926 97 622

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange