April 14 2023
UK-based, London Stock Exchange listed Industrials Reit, which owns multi-let industrial properties providing work spaces and storage for small and medium sized businesses, has agreed to the terms of the final cash offer for the company from the global private equity firm Blackstone previously said to be around £700m (R15.8bn).
An announcement on Friday by Industrials Reit confirmed the details of the offer from Sussex Bidco. Bidco is a partnership indirectly owned by investment funds advised by affiliates of Blackstone.
Under the terms of the offer, Industrials’ shareholders will receive £1.68 (R37.94) per ordinary share, representing a premium of 42.4% to the closing price of £1.18 on March 31.