BEWI – Agreement to divest remaining part of real estate portfolio for EUR 55 million
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 an industrial real estate portfolio. Further, in November 2022 and March 2023, BEWI announced that the company had completed the divestment of the properties in Norway, Sweden, Denmark, and Finland, valued at a total of approximately NOK 1 250 million.
Today, BEWI announces that the company has entered into agreements with KMC Properties for the divestment of the remaining part of this real estate portfolio for approximately EUR 55 million. The agreements are subject to certain conditions precedents being fulfilled and closing is expected to take place in the fourth quarter of 2023.
“We are pleased to confirm this milestone, divesting the remaining part of the industrial real estate portfolio to KMC Properties in line with our strategy and expectations. The transaction significantly strengthens our financial position,” says Christian Bekken, CEO of BEWI ASA.
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.
The information is such that BEWI ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:45 CEST on 29 September 2023.
