Hurtigruten considering strategic alternatives for the real-estate portfolio on Svalbard
Last changed: Tuesday, October 13, 2020 9:00 AM
Hurtigruten Group AS (the “Company”) owns and operates three hotels, retail stores, several apartments and a significant activity & excursion operation on Svalbard through its subsidiary Hurtigruten Svalbard AS. Based on interest for the Svalbard business from several external parties, the Company has decided to initiate a process to consider strategic alternatives for the real-estate portfolio on Svalbard. During the process, the Company will engage with interested parties in Norway and internationally and review various options for partnerships. Hurtigruten Group’s long term strategic commitment to a land-based Svalbard operation through Hurtigruten Svalbard will not be changed as a result of this process. The process may or may not result in a transaction.
Hurtigruten has engaged Carnegie AS has its financial advisor in relation to this process.