Carnegie Investment Bank Norway is proud to have acted as financial advisor to the Hurtigruten Group in connection with the sale of their real-estate portfolio on Svalbard to Store Norske Spitsbergen Kulkompani.

The real-estate portfolio, set in the pristine arctic landscape on Svalbard, covers three hotels, office facilities, 40 apartments and two large retail premises amounting to ~40 000 square meters.

As part of the sale Hurtigruten Svalbard has entered into a long-term operating lease agreement for the real-estate portfolio to continue developing Svalbard as a marquee destination for adventure travel in the Arctic. Substantiating Hurtigruten Group’s long-term strategic commitment to land-based operations on Svalbard.

Carnegie congratulates both parties with a successful transaction which will support the continued development of one of Norway’s most unique destinations.