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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 was completed on 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”.
Information on conversion of Logistea NDRs into shares
Logistea AB (publ) (“Logistea”) has issued class A and class B shares listed on Nasdaq Stockholm under the ticker symbols LOGI A and LOGI B respectively. The class A shares are identified by ISIN code SE0017131329 and the class B shares are identified by ISIN code SE0017131337. For certain shares in Logistea, Norwegian Depository Receipts (“NDRs”) have been issued which are registered in the Norwegian central securities depository Euronext Securities Oslo (Verdipapirsentralen ASA) (“VPS”). One NDR represents one share. The NDRs have the name Logistea AB NDR in the VPS. These NDRs were issued in 2024 in connection with the combination between Logistea and KMC Properties to enable certain shareholders in KMC Properties to take receipt of shares in Logistea.
The general terms and conditions for NDRs apply from 11 July 2024. The terms and conditions are available below.
If a holder of NDRs wishes to exchange NDRs, registered with VPS Norway, for shares in Logistea, registered with Euroclear Sweden, the holder must contact his/her bank (where the holder holds its VPS account) for assistance.
DNB Bank ASA is the registrar of the NDRs for Logistea in Norway, with the following contact details:
Address: P.O. Box 1600 Sentrum, 0021 Oslo, Norway
E-mail address: support.custody@dnb.no
Telephone: +47 23 26 86 10
More information is found on the page Extraordinary General Meeting July 2024