– These are the best owners that they (the sellers) can imagine. This is stated by lawyer Per Kyllingstad, who represents the owners of the last privately owned property in Svalbard – Søre Fagerfjord, to news. After a long work on selling the property, which for over 100 years has been privately owned, the company is now negotiating to sell shares to leading global environmental organizations and foundations. – This is where environmental protection organizations come in, which is the sole purpose of safeguarding climate, sea and Arctic, says Kyllingstad, and says that the owners will return almost half of the sales price to an environmental foundation. Lawyer Per Kyllingstad represents the owners of the company. Photo: NTB Ministry of Trade and Fisheries informs news that they have not received any inquiries from today’s owners of the Svalbard property Søre Fagerfjord on the negotiation and implementation of the acquisition of the property. They cannot do this without the Ministry’s consent, points out Business Minister Cecilie Myrseth (Ap). – It is not the sellers who decide whether they have found an acceptable buyer or not. It is the Ministry of Industry that does. They have to contact us and not least send an application with all relevant information both about negotiations and who might want to buy, says Myrseth to news. She responds that the sellers are now claiming negotiations on sales, without the ministry being informed in advance. In a document news has seen, it is stated that the company should have received bids of $ 250-300 million, which is equivalent to about NOK 3.1 billion at the current price. Business Minister Cecilie Myrseth. Photo: Erik Waagbø / news Treaty violation The government in June 2024 chose to go to the emergency brake to prevent the sale of the property to unwanted players. Through decisions made in accordance with section 2-5 of the Security Act, neither is negotiated nor the acquisition of shares that will directly or indirectly give the buyer an overall direct or indirect ownership interest of at least 10 per cent of the share capital, the proportion or votes of the company. The decision: The decision entails: Negotiations or implementation of the acquisition of the Søre Fagerfjord property on Svalbard cannot be made without the express consent of the Ministry of Trade and Fisheries. It is not negotiated or implemented by shares that will directly or indirectly give the buyer an overall direct or indirect ownership of at least 10 per cent of the share capital, the proportion or votes in the company AS Kulpids. This also applies when this means that the buyer achieves a significant influence over the management of the company in a different way, or that the buyer achieves this together with his relatives. The company AS Kulpids is required to inform the Ministry on an ongoing basis about all bids received on the property and direct or indirect ownership interests in the company. The same applies to players representing the owners in the sales process. Acquisition in violation of paragraphs 1 and 2 cannot be carried out according to their content. Relevant registrators (including the Mapping Authority and the Brønnøysund Register) are instructed by the Minister of Industry that any such transfer should be denied. This decision believes that Kyllingstad represents a violation of both the Svalbard Treaty and the Svalbard Act, and refers to the principle of equal treatment. -This ban on sales and acquisition is aimed at actors where a non-news can arise that national security interests may be threatened. This is outside the legal basis, so the owners are free, he says, before continuing:-We are now talking about a sale to environmental protection organizations and foundations from NATO countries and allied states. At least it does not represent a threat to national security interests. Myrseth rejects violations of the Svalbard Treaty and the Svalbard Act, as Kyllingstad claims. – I strongly reject that. Our job as a government is to safeguard Norway’s interests and ensure peace and stability in Svalbard. We have made this necessary decision. I expect everyone to relate to Norwegian law. – Landless except through the media, the Ministry is not aware that negotiations on the property are underway. – If that is the case, it is unlawful. This is in violation of the decision that has now been made even under the Security Act, says Myrseth. She emphasizes that the company’s actions, if what Kyllingstad says votes, is an offense. – Is this something you bring with them? – I expect that they also relate to Norwegian law, and that they contact us as soon as possible, if it is true, what they now say. news has previously revealed that a woman from Russia is the real owner of the property. – Violation of Norwegian law Kyllingstad states that they have neither been in contact with the government lawyer nor the Ministry of Trade and Industry, and will not be this either. Furthermore, a contract can be signed without the state being involved. When asked what will happen if the company enters into such a contract, without the state’s involvement, Myrseth replies: – If that is the case, there is a violation of Norwegian law. Then, if that happens, we must of course consider the next step from us. – But as I said, this is not known to us except via the media, so I expect and expect, if this is the case, then they will contact the Ministry of Industry as soon as possible. Most of Svalbard is protected. The last time the state bought a private Eid property in Svalbard was Austre Adventfjord in 2016. It cost the state NOK 300 million. In addition to four large properties that the Russian state owns via its own mining companies, Norway now controls most of Svalbard. Now the last private property in Svalbard is for sale. It is located south of Svalbard and the owners have asked for over 300 million euros. This corresponds to NOK 3.5 billion. Published 30.04.2025, at. 12.52
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