Centuria Urban REIT’s unitholders advised to back merger
The unitholders of Centuria Urban Real Estate Investment Trust (REIT) (CUA) have been unanimously recommended by the Independent Board Committee (IBC) to vote in favour of the merger proposal of the CUA and Centuria Metropolitan REIT (CMA).
Additionally, an independent expert was appointed who concluded that the proposal was fair and in the best interests of, non-associated CUA unitholders in the absence of a superior proposal.
In March, CPF2L announced it had entered into a scheme implementation agreement with Centuria Property Funds Limited (CFPL), as responsible entity of CMA, to acquire all of the issued units in CUA in an “NTA-for-NTA” merger of equal transaction.
The independent directors of Centuria Property Funds No. 2 Limited (CPF2L), a responsible entity of CUA, formed an independent Board Committee (IBC) which unanimously recommended that CUA unitholders vote in favour of the proposal, in the absence of a superior proposal.
AUTHOR
Oksana Patron
Recommended for you
Australian fund managers are actively seeking to launch Cayman versions of their funds to attract offshore flows, with Regal Partners set to launch its latest offering this month.
As private markets gain traction in Australia but only a limited pool of talent is available, three recruiters explore whether fund managers should consider looking overseas to find top talent.
With an explosion of private credit managers appearing in the market, two alternatives experts believe a consolidation is needed to maintain the quality of the sector.
Bentham Asset Management has become the latest fund manager to expand its distribution team as it reports increased interest in its credit strategies.
