Mergers & Acquisitions ·
Barnwell Industries announced the entry into a Purchase and Sale Agreement to sell its remaining Hawaii development…
BRNBarnwell Industries Inc
Barnwell Industries announced the entry into a Purchase and Sale Agreement to sell its remaining Hawaii development interests for $1.77 million in cash, with net proceeds estimated at approximately $1.5 million plus an additional $0.1 million distribution. The transaction involves selling partnership interests in KKM Makai, LLLP and KD Kona 2013 LLLP, along with related project rights, to David Johnston. Closing is expected by September 15, 2026, subject to customary conditions. This sale marks a complete exit from the company's Hawaii real-estate-related interests, allowing for the winding up of subsidiaries and redeployment of capital toward higher-return opportunities in its energy and related asset operations.