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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.