SEGRO Amends Terms Of Shareholders' Agreement With PSP Britannia

28th Mar 2018 15:12

LONDON (Alliance News) - SEGRO PLC said on Wednesday its subsidiary SEGRO Luxembourg has amended certain terms of the existing shareholders' agreement with PSP Britannia in relation to the SEGRO European Logistics Partnership joint venture.

The commercial enterprise has provisions, which allow non-defaulting shareholder to give notice to the defaulting shareholder requiring it to sell all of its interests in the joint venture to the non-defaulting shareholder.

Under the amendments, the property investment and development company has set the cap on any consideration paid to SEGRO Luxembourg to GBP1.5 billion and 25% of the market capitalisation or total assets of SEGRO.

SEGRO shares were up 0.6% at 596.80 pence per share on Wednesday.

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