Norway’s SWF Approved by Euro Commission to Buy Paris Properties

Norway’s sovereign wealth fund under their subsidiary NBIM Clement SCI has been approved by the European Commission to acquire 50% of French developer SCI Pasquier. Currently, SCI Pasquier is solely owned by Assicurazioni Generali S.p.A which is part of the Italian insurer Generali Group. Generali will maintain 50% ownership in the properties. The sovereign wealth fund investment includes five properties in Paris.

The real estate transaction would augment NBIM’s exposure to core properties in central Paris.

Properties include:

  • 11/13/15 Rue Pasquier – SCI Pasquier
  • 3-5 Boulevard Malesherbes – SCI Malesherbes
  • 183-185 Avenue Daumesnil – SCI Daumesnil
  • 15-17 Rue Scribe – SCI 15 Scribe
  • 100 Avenue des Champs Elysees – SAS 100 CE

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