Steen & Strøm
From Wikipedia, the free encyclopedia
| Steen & Strøm ASA | |
|---|---|
 |
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| Type | Public |
| Founded | 1797 |
| Headquarters | Oslo, Norway |
| Area served | Scandinavia |
| Key people | Olav Line (CEO) Peter Arne Ruzicka (Chairman) |
| Industry | Real estate |
| Products | Shopping centres |
| Revenue | ▲ NOK 2,010 million (2006) |
| Operating income | NOK 1,762 million (2006) |
| Net income | NOK 1,084 million (2006) |
| Employees | 252 (2007) |
| Website | www.steenstrom.no |
Steen & Strøm is a Scandinavian real estate company that owns and operates 52 shopping centres in Norway, Sweden and Denmark. In 2006 the shopping centers had 3,300 lessees with total revenue of about NOK 40 billion. The largest owners of the group is Canica (49,9%), Storebrand (12.9%), Orkla (10.3%), Stein Erik Hagen (5.9%) and Varner-Gruppen (5.5%).
[edit] History
The company was founded in 1797 when Samuel Strøm started a wine shop and general store in Oslo. Emil Steen became a partner in 1856, and the name Steen & Strøm was established. In 1874 the company built the first department store in Norway, but it was destroyed in a fire in 1929. By 1930 a brand new store had been rebuilt, with architectural inspiration from Paris. In 1991 Agora Drift AS took over the management of Steen & Strøm, as well as five other shopping centres and three hotels, and started expanding. In July 1994 the company was listed on the Oslo Stock Exchange, but delisted again in September 2007.
