Bewi divests €30.5m in Scandinavian real estate to KMC Properties

Global packing and components solutions provide Bewi has agreed the divestment of four properties, valued at NOK 348.3 mln (€30.5 mln) to KMC Properties.

Three properties are in Finland and one in Denmark.

The purchase price will consist of NOK 200.0 mln (€17.5 mln) in cash and NOK 148.3 mln (€13.0 mln) in 20.23 million new shares in KMC Properties at a subscription price of NOK 7.33 (€0.64) per share.

With the acquisition of the new shares, Bewi will pass the 5% threshold in KMC Properties, holding over 28.8 million shares, corresponding to 8.4% of the issued share capital and votes.

The deal follows last June’s agreement between Bewi and KMC Properties for the divestment of a real estate portfolio of up to 24 properties and one land plot valued at up to NOK 2 bln (€175.6 mln).

In connection with the transaction, long term triple net rental agreements were entered into for the properties.

In November 2022, Bewi completed the first phase of the transaction worth around NOK 900 mln (€79 mln), including 10 properties and one land plot in Norway and Sweden.

KMC Properties has an exclusive right to acquire the remaining part of the portfolio, including properties in German, Belgium, Poland, Finland, and Denmark until 30 June 2023.

The divestments are in line with Bewi’s strategy and provide the company with a strengthened financial flexibility.


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