Brief: Kmc Properties Signs Conditional Agreements For Development Of Salmon Slaughterhouse Facility

Bevest ASA

02/06/2022 07:54

June 2 (Reuters) - Kmc Properties ASA  KMCP.OL :
    * SIGNING OF CONDITIONAL AGREEMENTS FOR DEVELOPMENT OF
SALMON
SLAUGHTERHOUSE FACILITY FOR SLAKTERIET HOLDING
    * TODAY ANNOUNCES THAT COMPANY HAS ENTERED A CONDITIONAL
SHARE
PURCHASE AGREEMENT AND A CONDITIONAL LEASE AGREEMENT WITH
SLAKTERIET
    * AGREEMENTS INCLUDE ACQUISITION OF LAND PLOT AND
PRELIMINARY
WORKS FOR APPROXIMATELY NOK 41.3 MILLION
    * PARTIES HAVE ENTERED A TRIPLE-NET BARE HOUSE LEASE
AGREEMENT FOR
SLAUGHTERHOUSE FACILITY WITH AN INITIAL TERM OF 20 YEARS, WITH
AN OPTION FOR TENANT TO EXTEND FOR 4 TIMES 5 YEARS
    * AGREEMENTS ARE SUBJECT TO CUSTOMARY CLOSING CONDITIONS AND
FINANCING
    * IS EXPECTED TO BE COMPLETED DURING FIRST HALF OF 2024
    * ESTIMATED TOTAL INVESTMENT HAS BEEN UPDATED FROM NOK 620
MILLION
TO NOK 682 MILLION, STILL WITH A YIELD-ON-COST OF 6.75 PER CENT

Source text for Eikon:  ID:nObitN9Bha 
Further company coverage:  KMCP.OL 

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