National Storage REIT Says Brookfield, GIC Consortium Secures Australian, New Zealand Authorities' Approval for Proposed Acquisition

MT Newswires Live04-07

National Storage REIT (ASX:NSR) said Iridium SP BidCo and ITG Australia TS Sub as trustee for Iridium SP Bid Trust secured approvals from Australia's Foreign Investment Review Board (FIRB) and the New Zealand Overseas Investment Office (OIO) for their proposed acquisition of all of the issued stapled securities of National Storage, according to a Tuesday Australian bourse filing.

The bidders are entities established and jointly indirectly owned by a consortium of funds owned or managed by Brookfield Asset Management or its affiliates and their managed funds, as well as affiliates of GIC. Under the deal, the REIT's shareholders will receive AU$2.86 in cash per stapled security.

The implementation of the schemes of arrangement remains subject to other conditions precedent, including approval by the requisite majorities of National Storage securityholders, as well as court approvals.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment