BEWi intends to divest real estate in the Netherlands

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BEWi produces boxes for the salmon industry.

BEWi, parent company of BEWiSynbra Group, has entered into a letter of intent with KMC Properties regarding the divestment of certain real estate owned by the company located in the Netherlands, for EUR 2.7 million.

The company is a major European player in both the insulation and packaging industries and also produces boxes for the salmon farming industry.

The transaction will constitute a related party transaction since KMC Properties partly is indirectly owned by Bekken Invest, which indirectly controls 58.6 per-cent of the shares in BEWi through KMC Family and Frøya Invest. Through the contemplated divestment, BEWi will realise values and release capital. The company intends to use the proceeds from the divestment to invest in further growth, including both existing operations and strategic opportunities.

BEWi CEO Christian Bekken said: “This divestment supports our long-term strategy for growth and further expansion of our circular activities, by releasing capital and increasing our financial flexibility.”