BEWI – Completion of first phase of divestment of industrial real estate portfolio to KMC Properties for NOK 900 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 up to 24 properties and one land plot with a gross asset value of up to approximately NOK 2.0 billion.

The first phase of the transaction has now been completed, including 10 properties and one land plot in Norway and Sweden, valued to approximately NOK 900 million. Net of taxes, BEWI receives approximately NOK 850 million in cash for the properties. In connection with the transaction, long term triple net rental agreements have been entered into for the properties.

KMC Properties has further an exclusive right to acquire the remaining part of the portfolio valued at up to NOK 1.1 billion. The exclusive right is valid until 30 June 2023.

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

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.