Norges acquires £245m Shaftesbury stake from Invesco

Norwegian sovereign wealth fund Norges Bank Investment Management has acquired an 8.2 percent stake in Shaftesbury from Invesco, according to media outlets.

The sales price was £245 million ($342 million).

NBIM now holds 20.86 percent in the London-based property firm.

It is the second largest shareholder, following Sammy Tak Lee, a London-based Hong Kong billionaire property developer. He is the director of Prudential Enterprises, a real estate firm based in Hong Kong. He is best known for his purchase of London’s historic Langham Estate, 14 acres of prime real estate in Fitzrovia.

Shaftesbury invests in real estate in London’s West End. The firm’s portfolio comprises 583 shops, restaurants, cafes and pubs, extending to 1.1 million square feet, as well as 405,000 square feet of offices and 570 apartments.