Cibus Nordic Real Estate’s DKK 2,080 Million Acquisition of Danish Portfolio of Supermarkets

Moalem Weitemeyer advised Cibus Nordic Real Estate on the deal while Brown Rudnick represented SG Nordic.

Nasdaq Stockholm listed Cibus Nordic Real Estate entered into an unconditional and binding agreement to acquire a Danish property portfolio consisting of 34 first tier super market properties at a property value of approximately DKK 2,080,000,000. 

The properties are located in Denmark and are rented out with an average lease length of 5.3 years with, among others, Coop Denmark, Salling Group, Dagrofa and Reitangruppen as tenants. The rentable area amounts to approximately 76,600 square meters.

Financing of the Transaction consists of a combination of external financing, funds from available cash and a directed share issue intended to be carried out by way of an accelerated bookbuilding procedure, which will be announced through a separate press release in connection herewith.

Cibus is an active real estate company whose business idea is to acquire, develop and manage high quality properties in the Nordics with a clear orientation towards food and grocery trade. Cibus’ current property portfolio is spread out across strategically sound locations, mainly in the southern and southwestern Finland, the southern and central Sweden and Norway, and the properties are for the most part located in regions that the Company considers to have a strong population growth.

The Moalem Weitemeyer team included Frantz Sigersted-Rasmussen (Picture), Dan Moalem, Henning Hedegaard Thomsen, Kristoffer Lund Poulsen and Joachim Buznicki Nørlem.

The Brown Rudnick team was led by Tuvi Keinan and Victoria Rodley.

Involved fees earner: Tuvi Keinan – Brown Rudnick LLP; Victoria Rodley – Brown Rudnick LLP; Joachim Buznicki Nørlem – Moalem Weitemeyer; Henning Hedegaard Thomsen – Moalem Weitemeyer; Kristoffer Lund Poulsen – Moalem Weitemeyer; Dan Moalem – Moalem Weitemeyer; Frantz Sigersted-Rasmussen – Moalem Weitemeyer;

Law Firms: Brown Rudnick LLP; Moalem Weitemeyer;

Clients: Cibus Nordic Real Estate; SG Nordic ApS;

Federica Tiefenthaler

Author: Federica Tiefenthaler