Complex sentence: Store Norske Spitsbergen Kulkompani started as a consortium of Norwegian investors in 1916, which purchased the "Arctic Coal Company's" and "Ayer and Longyear's" lands and operations on Spitsbergen in that year.
Split into simpler sentences: Store Norske Spitsbergen Kulkompani started as a consortium of Norwegian investors in 1916. It purchased the "Arctic Coal Company's" and "Ayer and Longyear's" lands and operations on Spitsbergen in that year.