KMC Properties ASA

M&A Activity • Nov 29, 2022

KMC Properties divests its office building in Moscow

KMC Properties divests its office building in Moscow

KMC Properties ASA, a real estate company focusing on industrial and logistic properties, today announces that it has received payment of EUR 9.6 million for the sale of its office building in Moscow, Russia.

A complete sanction control and ownership research has been carried out of the buyer. The settlement has been made outside Russia.

Reference is further made to KMC Properties financial report for the third quarter of 2022, where the company announced that it had accepted a bid for the property valuing the building at USD 9 million, in line with the booked value on 30 September 2022.

KMC Properties initiated a sale of its Russian subsidiary owning the company’s office building in Moscow during the first quarter of 2022. The investment in Russia was consequently presented as a discontinued operation.

For further information, please contact:

Charlotte Knudsen, IR and Communications KMC Properties ASA, tel. +47 97561959

About KMC Properties ASA

KMC Properties is an Oslo Børs-listed real estate company focusing on industrial- and logistic properties. The company has a diversified portfolio of properties, mainly in the Nordics and the Netherlands. The properties are strategically located and have long lease agreements with solid tenants.

KMC Properties has an ambitious strategy to grow the portfolio through further development of existing properties, as well as M&A initiatives.

The information is such that KMC Properties ASA is required to disclose in accordance with the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 13:50 CET on 29 November 2022.