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Potential new investor in Parallell

Porsgrunn, 22 July 2022: 

Recreate ASA and Brødrene Jensen AS have entered an agreement which gives Brødrene Jensen the opportunity to acquire 50 per cent of the property Parallell, a sustainable and modern office property located in Økern, Oslo.

Brødrene Jensen AS holds 13.7 per cent of the shares in Recreate ASA, and the option agreement, which may be exercised by the end of Q3 2022, is made in accordance with the principle of arm’s length and on market terms.

The agreement to acquire Parallell was announced in a stock exchange announcement issued on 1 April 2022, and completion is conditional upon financing.

- Brødrene Jensen is a solid potential investor and bringing them in as partners would reduce the need to raise equity or seek debt financing related to this project. This agreement brings us one step closer to realising our ambitions for this highly attractive property, says CEO of Recreate, Emil Eriksrød.

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