Proposed merger of CMA and CUA

Company News

by Jessica Amir

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.
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 after having worked in financial advising for seven years and in TV journalism for seven years, specialising in finance, equities and analysis. She has interviewed former Prime Ministers of Australia, Tony Abbott, Julia Gillard and Kevin Rudd and ex Treasurer Jo Hockey. Jessica has worked as a journalist with Sky News Business, ABC 1, ABC's The Business, ABC24 and has also been a regional Channel 7 and 9 TV reporter with Prime7 and Win News.