BEWI – Approvals from competition authorities to finalise acquisition of Jackon

BEWI, a leading provider of packaging, components, and insulation solutions, today announces that the company has received final approvals from all relevant competition authorities to proceed with closing of the acquisition of Jackon Holding AS. As a consequence, thereof all conditions for finalising the acquisition of Jackon is now fulfilled.

BEWI submitted an offer for all shares in Jackon Holding AS in October 2021. The offer was accepted by the owners of Jackon. On 1 July 2022, BEWI announced that the company had received approval from all relevant competition authorities, conditional upon divestments of two insulation facilities in Finland and two packaging facilities in Norway. The company has now entered agreements for the relevant divestments and received final approvals from the competition authorities.

In Finland, BEWI has entered an agreement with the company JCJ Consulting AB for the sale of two insulation facilities located in Tarvasjoki and Ruukki. In Norway, an agreement has been entered into with the companies Kasseriet Alta AS and Kasseriet Holding AS for the sale of Jackon's facility in Alta and its shares in Kasseriet AS in Gratangen (63 per cent) respectively.

As previously communicated, revenues for the four facilities to be divested represent less than two (2) per cent of the combined company’s annual turnover. Final closing is expected to take place within the next two weeks.

Contact:

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

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.