Energy Ventures Private Equity Portfolio Company Sells Property at Mongstad

Posted on 15 June, 2016 by Mary Blackwell in Articles, News

 

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Energy Ventures Private Equity portfolio company sells property at Mongstad

Energy Ventures Private Equity today announced the sale of a property at Mongstad consisting of 77.000 m2 land incl. production facilities to Mongstad Administrasjon AS (a company controlled by EQT Infrastructure fund) for an undisclosed amount.

The selling entity is WellConnection Group Holding AS which after the sale still owns approx. 80.000 m2 of undeveloped industrial land at Mongstad. WellConnection Group Holding AS is the latest investment in Energy Ventures Private Equity fund V.

Senior Partner Per Arne Jensen with Energy Venture Private Equity comments on the transaction: “We are very pleased to execute the transaction to a well renowned buyer with strategic intent at Mongstad, less than 12 months after we acquired the property through the acquisition of Frank Mohn Mongstad AS. We will continue to work on the sale of also the remaining parcels of land.”

Mongstad Administrasjon’s CEO Tore Notø Johnsen comments on the transaction: “We are very happy to conclude this transaction with WellConnection Group Holding and are looking forward to continue to invest and work together with both new and existing tenants to develop Mongstad further”.

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