As a result of the acquisition, Castellum will hold shares representing more than 1/3 of the votes in Entra, triggering an obligation to make a mandatory offer for the remaining shares in Entra pursuant to chapter 6 of the Norwegian Securities Trading Act.

Castellum intends to make a mandatory offer to acquire the remaining shares in Entra within the four-week period set out in the Norwegian Securities Trading Act, subject to approval of an offer document and the offer by Oslo Børs ASA in its capacity as takeover supervisory authority in Norway (the "Offer"). The Offer will be made at NOK 110.40 per share in Entra.

Entra's largest shareholder, Fastighets AB Balder, controlling approximately 39.98 per cent of the shares and votes in Entra, has informed Castellum that it will not accept the Offer.

"Entra is a very fine company with a high-quality property portfolio mainly in central Oslo. A strong customer base with long leases and a large and attractive project portfolio makes the company well positioned for the future. We have now acquired additional shares and as a consequence we will make a mandatory offer and are happy to further increase our shareholding," says Joacim Sjöberg, Chief Executive Officer of Castellum.

Nordea Bank Abp, filial i Sverige, is acting as financial advisor to Castellum.

Balder recognises the offer but will keep its shareholding and does not intend to make a counteroffer.

”Entra is a well-managed company with many fine properties and we are very pleased with our shareholding. We recognise Castellum’s offer to acquire shares, but we keep our position and will not submit a counteroffer,” says Balder’s CEO Erik Selin.

Balder’s participating interest in Entra ASA is close to 40 percent.