Norway SWF adds $1 billion stake in Paris to portfolio

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The Norwegian Government Pension Fund Global, Norway's sovereign wealth fund, agreed to buy a 50% share in seven properties in the French capital from Axa, an insurer, the fund announced.

The price for the 156,000 square metres was €703m, just over $1 billion, the fund said. The move is the fund's first investment in France and follows the signing of a $720 million deal for a 150-year lease on a 25% in Regent Street properties in London.

The fund had a market value of approximately €400 billion

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