Propertylink portfolio valuations

Company News

by Anna Napoli

Propertylink Group (ASX:PLG) has today revealed the independent valuations of it's wholly owned industrial portfolio and investment management platform.

The valuations were commissioned in response to the non-binding indicative proposal from ESR Real Estate to acquire the company.

The assessments were completed for 29 of the 31 properties in the portfolio as at the end of September.

Appraisals have resulted in a net increase of almost $31 million or 3.9 per cent on book value.

Subject to the completion of due diligence by ESR and the negotiation of a Bid Implementation Agreement on terms acceptable to Propertylink, Directors intend to unanimously recommend that securityholders accept a takeover bid from ESR.

Shares in Propertylink (ASX:PLG) shares are trading 0.21 per cent higher to $1.17