FLSmidth has reached an agreement to sell its current corporate headquarters ahead of moving to its new home later this year.
The Danish mining and cement equipment and services giant has entered into a share purchase agreement with Nrep and AG Gruppen for its land and buildings located on Vigerslev Allé 77 in Valby, a district of Copenhagen.
This announcement marks a major milestone in FLSmidth’s long history at Vigerslev Allé, where the company has been based since 1899. Its iconic red-brick buildings, designed by architect Palle Suenson, were inaugurated in 1956 and today serve as the corporate headquarters.
In 2022, FLSmidth announced plans to relocate to a new corporate headquarters at Havneholmen in Copenhagen, with the move currently scheduled for late 2025.
The expected net cash proceeds from the sale amount to approximately DKK 730 million (€97.86mn) to be paid in full to FLSmidth upon closing of the transaction, expectedly at the end of the first quarter of 2026 following FLSmidth relocating to its new corporate headquarters. The expected accounting gain amounts to approximately DKK 690 million (€92.5mn). Closing of the transaction is subject to approval by the Danish Consumer and Competition Authority.
The expected net cash proceeds from the sale will be allocated in line with the company’s general capital allocation priorities, as well as for general corporate purposes.
The transaction does not change FLSmidth’s previously communicated financial guidance for the full year 2025 (ref. Company Announcement no. 8-2025).
