BEWi announces that investors have entered into an agreement to subscribe for new shares in BEWi in the total amount of SEK 400 million

Press release, at 10 p.m., March 15, 2018

On 14 February 2018, BEWi Group AB (publ) (“BEWi”), a leading full-line supplier in the Nordic countries of particle foam products, through a Dutch wholly-owned subsidiary, entered into a conditional agreement with funds managed by Gilde Buy Out Partners (“Gilde”) and its co-investors to acquire Synbra Holding B.V. (“Synbra”).

As previously communicated, BEWi has mandated Arctic Securities AS to assess the preconditions for a private placement of series A shares in BEWi, directed to Swedish, Norwegian and international investors in order to finance in part the contemplated acquisition of Synbra.

Gjelsten Holding AS and Frøya Invest AS have entered into an investment agreement with existing majority shareholders of BEWi representing 97% of the shares in BEWi to subscribe for new series A shares for a total amount of SEK 400 million in a directed share issue by BEWi. The investment is subject to customary conditions including closing of the Synbra acquisition. Existing majority shareholders of BEWi representing 97% of the shares in BEWi have undertaken to procure that an extraordinary general meeting of shareholders shall be held in order for the shareholders to resolve upon the directed share issue in BEWi to Gjelsten Holding AS and Frøya Invest AS.

Frøya Invest AS is owned by the Bekken family, which currently owns 48.5% of the shares in BEWi. Gjelsten Holding AS, a company 100%-owned by Bjørn Rune Gjelsten, is currently not a shareholder of BEWi.

It has been agreed in the investment agreement that a total amount of 9,376,465 series A shares in BEWi will be issued in the directed share issue for a total amount of SEK 400 million and upon completion of the directed share issue Frøya Invest AS will own 51.6% of the shares in BEWi, Gjelsten Holding AS will own 21.4% of the shares in BEWi, Verdane Capital Advisors will own 25.4% of the shares in BEWi and group management will own 1.6% of the shares in BEWi.

For further information, please contact:
Christian Bekken, CEO, BEWi Group. Tel: +47 905 55 141
Marie Danielsson, CFO, BEWi Group. Tel: +46 70 661 00 47
 

Advisors

Arctic Securities has been engaged as financial advisor to BEWi regarding the directed share issue and Advokatfirman Lindahl KB has acted as legal advisor to BEWi.

The information is such that BEWi Group AB (publ) is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 10 p.m. CET on 15 March 2018.

BEWi Group manages and controls the entire chain from the manufacture of raw materials to finished products for the construction, packaging, and technical packaging industries. We invest in new techniques and development of innovative environmentally sound products, which creates value across the chain. As the market continues to grow, BEWi will also grow, both organically as well as through acquisitions in order to create positive synergies around purchases, raw material management, marketing information, customer focus, efficient production and administration.
BEWi Group is owned to 48.5% by the Norwegian family Bekken through BeWi Holding, to 48.% by Verdane Capital Advisors and to 3% by Group management.

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BEWi Group manages and controls the entire chain from the manufacture of raw materials to finished products for the construction, packaging, and technical packaging industries. We invest in new techniques and development of innovative environmentally sound products, which creates value across the chain. As the market continues to grow, BEWi will also grow, both organically as well as through acquisitions in order to create positive synergies around purchases, raw material management, marketing information, customer focus, efficient production and administration.BEWi Group is owned to 48.5% by the Norwegian family Bekken through BeWi Holding, to 48.% by Verdane Capital Advisors and to 3% by Group management.

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