NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION. FOR FURTHER INFORMATION, PLEASE SEE “IMPORTANT INFORMATION” BELOW.
Logistea AB (publ) (“Logistea”), listed on Nasdaq Stockholm, and KMC Properties ASA (“KMC Properties”), listed on Oslo Børs, entered on 14 June 2024 into an agreement whereby Logistea will combine with KMC Properties (the “Transaction”) by acquiring all of the operations in the KMC Properties group through payment in newly issued shares. The combined company will as a result of the Transaction form a leading Nordic logistics, warehouse and light industrial real estate company with strategic focus on long-term growth, financial stability and sustainability. The Transaction will also significantly expand and diversify the combined company’s operations, improve its growth prospects and access to capital and enhance its in-house capabilities. The Transaction values both companies based on reported net asset value (NAV) as of 31 March 2024 adjusted for certain minor subsequent events. The relative ownership between shareholders in Logistea and KMC Properties in the combined company, which will operate under the company name Logistea, will be approximately 51 per cent and 49 per cent respectively. The Transaction is, subject to certain conditions, expected to be completed on or about 11 July 2024.
Presentation at Financial Hearings June 14
Register below to see the presentation
Niklas Zuckerman, CEO of Logistea
“We are very pleased to announce this transformational transaction where we combine two attractive and similar companies and property portfolios into one. I am looking forward to develop Logistea with my current and new colleagues with the aim to strengthen the offer to our tenants and becoming the natural choice for logistics and industrial companies”.
Patrik Tilman, Chairman of the board of Logistea
“The announced transaction today is a strategic milestone for both Logistea and KMC. The combined company forms a leading Nordic logistics, warehouse and light industrial real estate company with a very strong financial and operational starting point. From this strong foundation we aim to continue work hard and capture future growth prospects and deliver best in class shareholder value”.
Interim CEO of KMC Properties Stig Wærnes
“We look forward to joining forces with Logistea and believe that the combined company will be able to accelerate accretive growth beyond what two individual companies can achieve. The capabilities of the combined organisations will most likely create added platform value that should increase market pricing beyond net asset value (NAV) to the advantage for all shareholders”.
Indicative timetable
| Date | Event |
| 14 June 2024 | The notice to the extraordinary general meeting in Logistea as well as the notice to the extraordinary general meeting in KMC Properties are published |
| 28 June 2024 | Written bondholder resolution concluded in KMC Properties |
| 5 July 2024 | Extraordinary general meeting in KMC Properties |
| 9 July 2024 | Extraordinary general meeting in Logistea |
| 11 July 2024 | Completion of the Transaction |
| 11 July 2024 | Prospectus publication by Logistea for admission of trading of the consideration shares |
| 12 July 2024 | Publication by Logistea of its Q2 interim report |
More information is found on the page Extraordinary General Meeting July 2024