Madison has acquired a 50 % stake in High Street Shopping (HSS)


Wikborg Rein has assisted Madison in the purchase of 50 % of the shares in High Street Shopping AS (HSS) from Schage Eiendom AS. HSS is the owner of Norway's oldest department store, Steen & Strøm, centrally located in Oslo city. The property value of the properties in HSS is in excess of NOK 1.5 billion.

HSS was founded in 2011, and acquired Steen & Strøm Magasin (kongens gate 23, 27 and 29) as well as the property Karl Johans gate 16.

The owner of the remaining 50 % of the shares in HSS is Promenaden Property AS.  In 2013, Madison acquired a 30 per cent stake in Promenaden Property AS, with Søylen holding the rest.

Promenaden Property owns several properties in the heart of Oslo's premier shopping district, where fashion house Eger and its 50 per cent stake in HSS (Steen & Strøm) are the most well-known.

Wikborg Rein has assisted Madison in the purchase of the 50 % of the shares in HSS.

Wikborg Rein´s team has consisted of among others doctor juris Line Ravlo-Losvik (partner in charge) in cooperation with partner Gøran Mjelde Aarvik.

The transaction is further described in several Norwegian and international newspapers and internet sites:

See link to press release (English)

See link to Propertyfundsworld.com (English)

For links in Norwegian see here  

100 mill i gevinst på tre år.pdf

http://www.estatenyheter.no/index.php/15-nyhter/3808-selger-halve-steen-strom
http://www.nenyheter.no/42187
http://www.dn.no/nyheter/naringsliv/2014/09/22/0000/Eiendom/fr-320-millioner-for-halve-steen-strm
http://www.malling.no/bedriften/aktuelt/malling-co-eiendomskapital-as-bistar-madison-international-realty-llc-i-transak-2http://www.estatenyheter.no/index.php/component/content/article/15-nyhter/3230-selger-til-madison