Propertylink Group proposal to acquire Centuria Industrial REIT

Company News

by Rachael Jones

Propertylink Group (ASX:PLG) has today submitted a non-binding and indicative proposal to acquire all of the outstanding units in Centuria Industrial REIT (ASX:CIP).

Based on Propertylink’s closing price on 12 September 2018, the implied value of Propertylink’s proposal is $3.04 per CIP unit, which values the equity of CIP at $755 million.

The Proposal is subject to, among other conditions, Propertylink acquiring at least 50.1 per cent of CIP units.

Shares in Propertylink Group (ASX:PLG) are flat at $1.07.