Norway's sovereign wealth fund buys stakes in logistics properties

COPENHAGEN (Reuters) - Norway's sovereign wealth fund said on Monday it had acquired a portfolio of seven logistics properties across different European countries, which will be co-owned by its real estate partner Prologis.

Norges Bank Investment Management (NBIM) paid 166 million euros ($174.17 million) for its 49.5% stake in the portfolio, it said in a statement.

Prologis, the seller of the portfolio, will own the remaining 50.5% and will manage the assets on behalf of the joint venture, according to NBIM.

The seven logistics properties are located in Germany, Italy, Spain and Britain, respectively, NBIM said.

($1 = 0.9531 euros)

(Reporting by Louise Breusch Rasmussen, editing by Terje Solsvik)