• news.cision.com/
  • BEWI ASA/
  • BEWI – Agreement to divest real estate for NOK 348 million – disclosure of large shareholding in KMC Properties
English

BEWI – Agreement to divest real estate for NOK 348 million – disclosure of large shareholding in KMC Properties

Report this content

Reference is made to BEWI ASA's announcement on 30 June 2022 regarding the company entering into an agreement with KMC Properties ASA for the divestment of a real estate portfolio of up to 24 properties valued at up to NOK 2 billion. Further, on 9 November 2022, BEWI announced completion of the first phase of the transaction valued at approximately NOK 900 million, including the properties in Norway and Sweden. Today, BEWI announces that the company has entered an agreement with KMC Properties for the divestment of a total of four properties, of which three properties in Finland and one in Denmark valued at NOK 348.3 million.

The purchase price will be settled in the form of an amount equal to approx. NOK 200.0 million in cash and NOK 148.3 million in 20 235 931 new shares in KMC Properties at a subscription price of NOK 7.33 per share.

BEWI will through the acquisition of the 20 235 931 new shares in KMC Properties pass the 5 per cent threshold. Following the issuance of the new shares BEWI will hold 28 807 359 shares in KMC Properties corresponding to 8.4 per cent of the issued share capital and votes.

KMC Properties has an exclusive right to acquire the remaining part of the portfolio until 30 June 2023.

Contact:

Charlotte Knudsen, Director of IR and Communications BEWI ASA, tel: +47 9756 1959

Marie Danielsson, CFO BEWI ASA, tel: +46 70 661 00 47

About BEWI ASA

BEWI is an international provider of packaging, components, and insulation solutions. The company's commitment to sustainability is integrated throughout the value chain, from production of raw materials and end goods, to recycling of used products. With a vision to protect people and goods for a better every day, BEWI is leading the change towards a circular economy.

BEWI ASA is listed at the Oslo Børs under ticker BEWI.

The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation and section 4-2 of the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 15:40 CEST on 31 March 2023.

Subscribe