Centuria Industrial REIT rejection of Propertylink proposal

Company News

by Rachael Jones

Yesterday, Centuria Property Funds No. 2, as responsible entity of Centuria Industrial REIT (ASX:CIP) announced that its Independent Board Committee rejected Propertylink’s proposal to acquire CIP.

Propertylink continues to strongly believe that its Proposal would provide significant benefits to CIP unitholders and Propertylink securityholders, is in the best interests of CIP unitholders and should be put forward for CIP unitholders’ consideration by the IBC.

The Proposal implies a price of $3.04 per CIP Unit based on the last closing price of Propertylink securities at the time of submission which as the 12 September 2018.

This was before Propertylink became the subject of a takeover approach from Asian logisitics group ESR.

Shares in Centuria Industrial REIT (ASX:CIP) are down 0.35 per cent to $2.82.

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.