Astro Japan Property Group
(ASX:AJA) has agreed to sell its Property (TK) Interests to Jetsons Holding II Pte. Limited.
The sale involves a net consideration of $7.18 to shareholders in October 2017.
Jetsons, the proposed purchasing entity, is incorporated in Singapore by funds managed by Blackstone Real Estate (together with its affiliates ‘Blackstone’).
Subject to the transaction being approved by shareholders, Astro Group will be delisted from ASX and wound up.
Shareholders will receive the normal half year distribution of $0.21 per security, payable at August end 2017, plus a $0.14 distribution per security on the wind up, which is tabled to occur in January 2018.
Astro Group’s Board is unanimously recommending shareholders vote in favour of the Blackstone proposal (in the absence of a superior proposal).
Shares in Astro Japan Property Group
(ASX:AJA) last traded at $6.35. It’s shares are due to come out of a trading halt tomorrow.
