Brief: KMC Properties Signs Deal With Bewi For Acquisition Of Properties And Land Plot

Bevest ASA

30/06/2022 07:26

June 30 (Reuters) - Kmc Properties ASA  KMCP.OL :
    * KMC PROPERTIES - AGREEMENT FOR TRANSFORMATIVE ACQUISITION
OF NOK
2.0
    * KMC PROPERTIES - AGREEMENT FOR TRANSFORMATIVE ACQUISITION
OF NOK
2.0
    * UNIT , HAS TODAY ENTERED INTO AN AGREEMENT WITH BEWI ASA
("BEWI") FOR ACQUISITION 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 TRANSACTION ( "PROPERTY TRANSACTION"),
LONG
TERM TRIPLE NET RENTAL AGREEMENTS WILL BE ENTERED INTO FOR
PROPERTIES.
    * PROPERTY TRANSACTION IS GOVERNED BY A SALE AND PURCHASE
AGREEMENT ( "SPA") WITH BEWI AND REFLECTING A TOTAL GROSS ASSET
VALUE OF UP TO APPROXIMATELY NOK 2.0 BILLION.
    * COMPANY IS UNDER SPA OBLIGATED TO ACQUIRE NORWEGIAN AND
SWEDISH
PROPERTIES COMPRISED BY AGREEMENT VALUED TO APPROXIMATELY NOK
970 MILLION,
    * KMC PROPERTIES WILL FINANCE PROPERTY TRANSACTION BY A
COMBINATION OF NEW EQUITY, DRAWINGS ON EXISTING LOAN FACILITIES,
NEW COMMITTED LOANS, AND CASH ON BALANCE SHEET AND FROM
OPERATIONS
    * COMPANY IS CONTEMPLATING A PRIVATE PLACEMENT OF NEW SHARES
TO BE
CONDUCTED IN Q3 OF 2022
    * PRIVATE PLACEMENT IS FULLY UNDERWRITTEN BY A GROUP OF
INVESTORS
INCLUDING BEWI INVEST AS AND HAAS AS AT A MINIMUM SUBSCRIPTION
PRICE OF NOK 8 PER SHARE.

Source text for Eikon:  ID:nObiJmvF6a 
Further company coverage:  KMCP.OL 

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