As settlement for the transaction, Kverva and EBE Eiendom combined will receive approximately 153 million shares in Storm Real Estate, making them the two largest shareholders in Storm Real Estate. As a result of the transaction, both Kverva and EBE Eiendom are required to, and intends to make a mandatory offer to acquire all outstanding shares in Storm Real Estate not already owned by the companies.
At the time of the completion of the transaction, KMC Properties will own 39 industrial properties with a combined value of approximately NOK 3 billion and which are located in six countries. In connection with the transaction, Storm Real Estate intends to implement a NOK 300 million private placement directed towards certain shareholders of the company and new investors, by issuing up to 42 million new shares. Furthermore, Storm Real Estate intends to issue a secured bond of NOK 1,850 million in the Nordic bond market, divided into one or two tranches. The transaction is subject to a number of conditions, including among other the approval by the extraordinary general meeting of Storm Real Estate, which is expected to be held in mid-December, as well as the approval by the Oslo Stock Exchange for continued listing following completion of the transaction.
The transaction is expected to be completed no later than the end of January 2021.
The core team from Arntzen de Besche has consisted of André Michaelsen, Vidar Løhre and Gro Elin Sønderland.
