Fornebu Surges as OBOS Pays 46% Premium for Control: Oslo Mover
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Fornebu Utvikling ASA rose the most on record in Oslo trading after Oslo Bolig- og Sparelag bought shares at a 46 percent premium to gain control of the developer of Norway’s largest housing project.
Fornebu shares rose as much as 46 percent, the most since its 2007 listing, and were up 45 percent at 2.44 kroner at 4:25 p.m. local time. The shares dropped 28 percent last year, after rising 50 percent in 2010. The shares were bought from Orkla ASA as well as Norwegian billionaire Stein Erik Hagen.