Nordic real estate companies merge to create logistics powerhouse

18/06/2024, 08:57

Niklas Zuckerman. Image: Logistea.

Logistea and KMC Properties are merging to form a Nordic real estate company focused on logistics, warehouses and light industrial properties.

Logistea AB, listed on Nasdaq Stockholm, is acquiring all the business of KMC Properties ASA listed on the Oslo Stock Exchange with payment through newly issued shares.

“We are very pleased to announce this transformative transaction where we are combining two attractive and similar companies and property portfolios into one,” says Niklas Zuckerman, CEO of Logistea.

The New Logistea

The company will operate under the name Logistea AB and be headquartered in Stockholm.

The combined property portfolio will have a leasable area of approximately 1.4 million square meters, spread across 145 properties in Sweden, Norway, Denmark, Finland, the Netherlands, Belgium, Germany and Poland.

The company’s property value will exceed SEK 13 billion with an operating profit of nearly SEK 900 million.

Management and organization will consist of employees from both Logistea and KMC Properties.

The management team is expected to include, among others, Niklas Zuckerman, CEO, Anders Nordvall, Deputy CEO and CIO, and Stig Wærne, acting COO and Integration Manager.

“We look forward to merging with Logistea and believe that the combined company will be able to accelerate growth beyond what two individual companies can achieve,” says Stig Wærne, acting CEO of KMC Properties.