Brief: Logistea, Kmc Properties To Combine

Bevest ASA

14/06/2024 09:32

June 14 (Reuters) - Kmc Properties ASA  KMCP.OL :
    * LOGISTEA AND KMC PROPERTIES TO COMBINE AND FORM A LEADING
NORDIC
LOGISTICS, WAREHOUSE AND LIGHT INDUSTRIAL REAL ESTATE COMPANY
    * COMBINED COMPANY WILL HAVE A PROPERTY VALUE EXCEEDING SEK
13
BILLION
    * TRANSACTION VALUES BOTH COMPANIES BASED ON REPORTED NET
ASSET
VALUE (NAV) AS OF 31 MARCH 2024 ADJUSTED FOR CERTAIN MINOR
SUBSEQUENT EVENTS (THIS REPRESENTS A PRICE PER SHARE IN KMC
PROPERTIES OF NOK 7.88)
    * RELATIVE OWNERSHIP BETWEEN SHAREHOLDERS IN LOGISTEA AND
KMC
PROPERTIES IN COMBINED CO WILL BE 51% AND 49% RESPECTIVELY
    * TRANSACTION IS EXPECTED TO ENTAIL OPERATIONAL SYNERGIES OF
AT
LEAST SEK 14 MILLION
    * TRANSACTION WILL BE EXECUTED BY LOGISTEA ACQUIRING ALL
SHARES IN
KMC PROPERTIES HOLDCO AS
    * COMBINED COMPANY  WILL OPERATE UNDER NAME LOGISTEA
    * TRANSACTION IS, SUBJECT TO CERTAIN CONDITIONS, EXPECTED TO
BE
COMPLETED ON OR ABOUT 11 JULY 2024
    * PAYMENT OF PURCHASE PRICE WILL BE MADE VIA ISSUANCE OF
16.3
MILLION CLASS A SHARES, 214.55 MILLION CLASS B SHARES IN
LOGISTEA
    * SHAREHOLDERS IN KMC PROPERTIES WILL IN TOTAL RECEIVE
AROUND 0.04
CLASS A SHARES, AROUND 0.51 CLASS B SHARES IN LOGISTEA

Source text for Eikon:  ID:nObiTnt9wa 
Further company coverage:  KMCP.OL 

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