CEUSTERS and Carter Jonas Advise Sappi in Strategic Sale of Lanaken Mill
In a landmark transaction within the industrial real estate sector, CEUSTERS and Carter Jonas in London, have successfully assisted in the sale of the shares of Sappi Lanaken NV, including all land, buildings, and equipment of its Lanaken Mill in Limburg, Belgium, to UTB Waalwijk B.V. (UTB), a privately owned Dutch company specialising in industrial property conversions.
UTB will purchase all the shares in SAPPI Lanaken N.V. and its assets for a total of €50m [£42m]. The transaction is unconditional and expected to complete in October 2024.
The Lanaken Mill site comprises approximately 32 hectares (80 acres) of land with direct access to the Albert Canal on part of the site. It includes a collection of office buildings and industrial structures that amount to approximately 120.000 sq m (1.2 million sq ft) of space. The site also includes an advanced water treatment facility and power infrastructure.
The combined expertise of Ceusters and Carter Jonas (Andrew Smith FRICS SIOR MBA and Frédéric Schneider) underscores their capability in navigating complex transactions and providing strategic guidance to optimize asset value for their (international) clients.
