20th Feb 2019 08:20
LONDON (Alliance News) - Tritax Big Box REIT PLC said Wednesday it has completed its 87% acquisition of db Symmetry.
To pay for part of the acquisition, the FTSE 250-listed distribution centre investment trust will issue 40.5 million shares at 130 pence each, for a total of GBP52.6 million.
Shares in Tritax Big Box were down 0.6% Wednesday morning at 136.22p.
Tritax's issued share capital will increase to 1.71 billion following admission of the new shares, expected on February 22..
Previously, the real estate investment trust had said the deal has an enterprise value of GBP370 million. Tritax said GBP202.4 million will be paid in cash while GBP52.6 million will be paid through the issue of Tritax shares.
db Symmetry is a joint venture set up by real estate investment company Barwood Developments Ltd and investment company Delancey to acquire distribution centres in the UK.
Related Shares:
Tritax Big Box