Oslo, 26th of April 2021 – Baltic Sea Properties AS («BALT» or «the Company», and together with the Company’s subsidiaries, «BSP») refers to Oslo Stock Exchange release and information on the 29th of March 2021, regarding the LOI for acquisition of an Industrial/Business Park and a land plot both located in Lithuania´s third largest city, Klaipeda.

The transaction includes (1) Klaipeda Business Park (KVP) – a 24,000m2 Industrial, commercial and office park with 27 tenants in the Klaipeda free economic zone, (2) Liepu Parkas – a 36,000m2 strategical located land plot and (3) UAB BNTP – a management company providing a full range of real-estate and construction services with 9 employees.

The board and management consider the transaction as another step to becoming the preferred industry partner and leading real-estate developer/investor in the region.

«Baltic Sea Properties has a strategy to expand its operations, services and portfolio of assets by developments and acquisition. This acquisition is in line with that strategy and our commitment to provide value added real-estate solutions for our local and international partners and superior returns with stable dividends for our shareholders. The transaction also includes a highly experienced team of professionals which brings vast experience within construction, real estate development and asset management. We welcome BNTP team into BSP Group and look forward to working together» says BSP CEO Lars Christian Berger.

Details on transaction:

The transaction is completed by BSP acquiring all shares in four subsidiaries of Baltic Equity Group UAB for a total purchase price of MEUR 9.85 million (Equity + shareholder loans). The underlying assets in the transaction is valued at MEUR 17.

The main shareholder in Baltic Equity Group UAB is the current chairman of BSP James Andrew Clarke. The pricing of the acquired properties is done according to arm’s length principle, with price based on valuations from two independent and reputable valuators.

For further information, please contact
Lars Christian Berger
tel. 930 94 319
Baltic Sea Properties AS is a Norwegian real estate company focusing on development and property management in the Baltics. The company is one of the Baltics’ leading real estate investors and owns approximately 130,000 m2 of Industrial, logistics & commercial projects in the Baltics with a current expansion possibility for a further 100,000m2 primarily focused on industrial & logistics parks. This message is published in accordance with MAR article 17 by the contact person who appears above at the time stated in the message.