Steen & Strøm can trace its history back more than 200 years. In 1797 Samuel Strøm opened a little wine shop and general store at Kongens gate 23 in Oslo. In 1856 Emil Steen entered the picture and the name Steen & Strøm first came about.

The business expanded and in 1874 Norway’s first modern department store was ready to open its doors. The store contained all that might have been expected in a department store of the time and gradually beauty salons, barbers, small cafes, tea rooms and the latest technology were added.

In 1929 Steen & Strøm was totally destroyed by fire. The inspiration for the new store, which opened in 1930, was drawn from Paris. The new premises were large and open and for the first time people began to spend time in the store without really intending to shop.

In 1991, Agora Drift AS took over the management of Steen & Strøm Magasin and a further five shopping centres and three hotels, which was the start of an expansion phase which created the basis for the Steen & Strøm group.

Steen & Strøm Invest AS was listed on the Oslo Stock Exchange in July 1994 and delisted September 2007.

In 1997 Steen & Strøm celebrated its 200th anniversary. Over the course of two centuries we have grown from being a simple general store into Scandinavia’s leading owner and manager of shopping centres, with 54 shopping centres in Norway, Sweden and Denmark.

On 25 July 2008 ABP Pension fund ("ABP") and Klépierre jointly entered into an agreement to acquire 100% of the outstanding share capital of Steen & Strøm ASA. The transaction is expected to close in the second half of 2008 and its completion remains subject to customary regulatory approvals. ABP is the pension fund for employers and employees in service of the Dutch government and the educational sector. Klépierre SA is a France-based real estate company focused on the commercial property market, mainly shopping centres and office properties.