Norway's $685 bln oil fund buys 1.2 bln euro real estate portfolio
OSLO Dec 20 (Reuters) - Norway's $685 billion sovereign wealth fund purchased a 50 percent stake in an industrial real estate portfolio from Prologis Inc for 1.2 billion euros, the fund said in a statement on Thursday.
Prologis, which will retain a 50 percent stake in the venture, will manage the portfolio, which include 195 properties in 11 European countries, including France, the UK, Spain, Poland and Italy.
Norway's oil fund manages the country's surplus oil revenue and holds over $135,000 for each of Norway's 5 million residents.
It invests outside Norway and holds about 1 percent of all the stocks in the world.
- Israel knocks out Gaza power plant, digs in for long fight |
- Special Report: Where Ukraine's separatists get their weapons
- U.S. says Russia violated nuclear treaty, urges immediate talks
- Putin may have passed point of no-return over Ukraine
- EU agrees first broad sanctions on Russia; Ukraine fighting kills dozens