Arntzen de Besche has assisted BEWI Invest with a NOK 2.2 billion transaction in SinkabergHansen

We are delighted to have assisted BEWI Invest as legal advisers in this transaction. BEWI Invest has come to an agreement with shareholders at SinkabergHansen (SBH) representing 44,4 per cent ownership. The purchase price is agreed to be NOK 2.2 billion, implying an enterprise value of SBH on 100 per cent basis of NOK 5.0 billion.

BEWI Invest is a Norwegian industrial owner with a high-quality portfolio mainly comprised of companies within industry, real estate, and seafood. The company has a long-term perspective and has demonstrated a proven track record of value creation and growth.

SBH is an integrated salmon farmer attractively located in central Norway, and has a strong financial and operational track-record and had revenues of NOK 3 487 million and EBITDA of NOK 796 million in 2022 (proforma).

BEWI Invest states the following in a press release:

- SBH is a highly attractive addition to the BEWI Invest portfolio and a milestone in the ongoing creation of a strong and profitable seafood business to complement BEWI Invest’s other investments, mainly 51 per cent ownership in the industrial company BEWI ASA and 43 per cent ownership in the real estate company KMCP Properties ASA, both listed on the Oslo Stock Exchange.

The consideration will comprise of a combination of cash, hybrid bonds in BEWI Invest and newly issued shares in BEWI Invest, whereby the Sellers will become significant minority shareholders in BEWI Invest. The Transaction is expected to close 28 April.

Our core team consisted of André Michaelsen, Aleksander Rygh Pedersen and Henrik Braavold Johansen.


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