Norway's oil fund, AXA invest in German properties
OSLO Oct 10 (Reuters) - Norway's $650 billion sovereign wealth fund and joint venture partner AXA France Insurance Companies have agreed to buy two properties in Germany for 784 million euros ($1.01 billion) from the Royal Bank of Scotland , Norway's central bank said on Wednesday.
The properties are located in Berlin and Frankfurt and are used mainly for office and retail purposes. The two partners will each hold 50 percent stakes in the properties, Norges Bank, which manages the wealth fund, said.
"It is in line with our strategy to build our real estate portfolio by initially investing in large, well-developed markets alongside partners with aligned interests," the bank said in a statement.
- Malaysian plane still missing; questions over false IDs |
- CORRECTED-UPDATE 4-Malaysia Airlines plane crashes in South China Sea with 239 people aboard - report
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Malaysian plane crashed off Vietnam coast: state media