BEWI – Sale of industrial real estate portfolio to KMC Properties for NOK 2.0 billion
BEWI ASA, a leading provider of packaging, components, and insulation solutions, has today entered into an agreement with a wholly owned subsidiary of KMC Properties ASA (“KMC Properties”) for the sale of up to 24 properties and one land plot, with a gross asset value of up to approximately NOK 2.0 billion. In connection with the transaction (the “Property Transaction”), long term triple net rental agreements will be entered into for the properties.
“This divestment is in line with our strategy and similar to previous transactions, including the divestments in the Netherlands and Denmark in 2020. The sale of these properties provides us with a significantly strengthened financial flexibility, enabling us to continue pursuing further attractive growth opportunities,” says Christian Bekken, CEO of BEWI ASA.
KMC Properties is under the agreement obligated to acquire the Norwegian and Swedish properties comprised by the Property Transaction valued to approximately NOK 970 million, including 12 properties and one land plot. Further, KMC Properties has an exclusive right to acquire the remaining part of the portfolio, including properties in Germany, Belgium, Poland, Finland, and Denmark, within twelve months from today. KMC Properties intends to utilize the exclusive right.
In October 2021, BEWI announced that the company had received acceptance from all shareholders for its offer to acquire Jackon Holding AS. Closing of this acquisition is pending regulatory approvals, hence completion of the Property Transaction is subject to closing.
The real estate advisor Norion Næringsmegling has acted as advisors to BEWI in the sales process, securing a structured and independent process. Norion has contacted several potential buyers, based on given criteria, after which a total of three bids were received.
“Following a thorough and structured process, KMC Properties offered us the best overall solution. This is a complex agreement, covering many properties in different countries, all at strategically important locations to us. We will enter long-term lease contracts, building on years of good relations with KMC Properties, where they have been flexible and agile when it comes to upgrades and extensions of the facilities we operate in,” Bekken concludes.
Wikborg Rein Advokatfirma AS is legal advisor to BEWI ASA in connection with the Property Transaction.
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 is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CEST on 30 June 2022.