Brief: KMC Properties Signs LoI With Slakteriet Holding To Build Salmon Slaughterhouse Facility

Bevest ASA

23/08/2021 07:39

Aug 23 (Reuters) - Kmc Properties ASA  KMCP.OL :
    * KMC PROPERTIES ASA SIGNS LETTER OF INTENT WITH SLAKTERIET
HOLDING AS TO
    * TODAY ANNOUNCED SIGNING OF A LETTER OF INTENT (LOI) WITH
SLAKTERIET HOLDING AS TO BUILD A NEW SALMON SLAUGHTERHOUSE
FACILITY AT FLORØ, IN VESTLAND COUNTY ON NORWEGIAN WESTERN COAST
    * INVESTMENT IS ESTIMATED AT NOK 620 MILLION.
    * KMC PROPERTIES WILL BE RESPONSIBLE FOR BUILDING OF
FACILITY, AND
CONSTRUCTION WORK IS EXPECTED TO COMMENCE IN 2022, WITH
SCHEDULED COMPLETION IN 2023/2024
    * TO BUILD NOK 620 MILLION SALMON SLAUGHTERHOUSE FACILITY
    * PARTIES HAVE AGREED ON A TRIPLE-NET BARE HOUSE AGREEMENT,
WITH
AN INITIAL LEASE TERM OF 20 YEARS, WITH OPTION OF A 10-YEAR
EXTENSION.
    * ACQUISITION WILL BE FINANCED THROUGH A COMBINATION OF BANK
LOAN
AND EQUITY.
    * A FINAL DECISION ON EXECUTION OF PROJECT WILL BE TAKEN
AFTER
PRELIMINARY PROJECT WORK HAS BEEN COMPLETED IN END OF 2021.

Source text for Eikon:  ID:nObi3qJdna 
Further company coverage:  KMCP.OL 

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