Property funds, Centuria Metropolitan REIT
(ASX:CMA) and Centuria Urban REIT
(ASX:CUA) have entered into a proposed Merger agreement.
The funds responsible entities entered into a Scheme of Implementation (SIA) to undertake a merger of equals.
If Centuria Urban REIT
(ASX:CUA) unit holders approve the Merger and the simplification Proposal is implemented, Centuria Urban REIT unit holders will receive 0.88 Centuria Metropolitan REIT No. 1 (CMR1) units, for every Centuria Urban REIT held.
Centuria Urban REIT
(ASX:CUA) unit holders will also receive a $0.23 cash payment for every Centuria Urban REIT
(ASX:CUA) unit held.
Centuria Metropolitan REIT
(ASX:CMA) reported a net profit of $27.1 million for the first half of the 2017 years.
