Kristian Siem buys Petter Olsen’s estate outside Oslo

A property deal between two famous Norwegian shipping magnates has been making headlines in Oslo. 

Kristian Siem has bagged a significant discount in buying the childhood home of Petter Olsen, a property that includes two smaller detached houses, multiple garage spaces, a storage house, a henhouse, a sauna, a carp pond, and a park, located just outside Oslo. 

The house was first put up for sale at the end of 2023 with an asking price of $6.16m. The final cost was half of this. 

Olsen was declared personally bankrupt in September last year. Soon after, Siem reportedly purchased Olsen’s bankrupt estate, including a hotel and a famous art collection.