Restructuring of Aspelin Ramm

Aspelin Ramm, the leading Norwegian-Swedish real estate and trading group, is undergoing a strategic restructuring of ownership to establish separately owned real estate entities in Norway and Sweden.

The Aspelin Ramm group is currently owned 50/50 by the Aspelin family, through Artel Kapital AS ("Artel") and the Ramm family through Sole Kapital AS ("Sole"). As part of the restructuring Artel will acquire full ownership of the Norwegian real estate portfolio of Aspelin Ramm Group through Aspelin Ramm Eiendom and Sole will take full ownership of the Aspelin Ramm group’s Swedish real estate portfolio through Aspelin Ramm Fastighet AB. The construction materials specialist Motek AS will remain jointly owned.

Aspelin Ramm Eiendom AS, which will be acquired by Artel, is one of Norway's largest real estate players and develops and owns properties in the Oslo area. The company has been involved in landmark development projects such as Vulkan, Tjuvholmen, Via Vika, Union Brygge in Drammen, and the hotels The Thief and Sommerro. Its real estate portfolio consists of app. 350,000 sqm and its development portfolio of app. 330,000 sqm.

CLP, together with Attorney-at-law (LLD) Niels Kristian Axelsen, is acting as legal advisor to Artel in the transaction. CLP's team consists of Edvard Cock, Arve Jahren, Håvard Skogvoll, Sigrid K. Gjertsen Ertzaas and Amund Erdal.

The transaction is expected to close in early 2025, pending regulatory approval and customary closing conditions.