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InterRent REIT to be Acquired by CLV Group in Partnership with GIC in $4 Billion All-Cash Transaction
InterRent REIT to be Acquired by CLV Group in Partnership with GIC in $4 Billion All-Cash Transac...
About this update from Interrent Real Estate Investment Trust
[{"type":"text","content":"\n\n\n\n InterRent REIT to be Acquired by CLV Group in Partnership with GIC in $4 Billion All-Cash Transaction\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n Transaction Highlights\n \n\n\n\n InterRent unitholders to receive cash consideration of\n \n $13.55\n \n per unit, representing a:\n \n\n\n\n\n\n 35% premium to InterRent's unaffected closing unit price on the TSX as of\n \n March 7, 2025\n \n , the last trading day prior to media speculation regarding the REIT, and a\n \n\n\n\n 29% premium to InterRent's 90-day VWAP on the TSX as of\n \n May 26, 2025\n \n Board of Trustees of InterRent (the \"Board\") unanimously recommends that unitholders vote in favour of the Transaction\n \n\n\n\n\n\n The Board and the Special Committee have obtained fairness opinions from BMO Capital Markets and National Bank Financial Inc. (\"NBF\"), and the Special Committee has obtained a formal valuation from NBF\n \n\n\n\n Agreement includes a \"Go-Shop\" period of 40 days during which InterRent may actively solicit, evaluate and enter into negotiations with third parties that express an interest in acquiring InterRent\n \n\n\n\n InterRent to issue a proxy circular, including full reasons for its voting recommendation and instructions for unitholders, in due course\n \n\n\n\n\n OTTAWA, ON\n \n\n ,\n \n\n May 27, 2025\n \n\n /CNW/ - InterRent Real Estate Investment Trust (\"InterRent\" or the \"REIT\") (TSX: IIP.UN) announced today that it has entered into an arrangement agreement (the \"Arrangement Agreement\") with Carriage Hill Properties Acquisition Corp. (the \"Purchaser\"), a newly formed entity owned by CLV Group and GIC, pursuant to which the Purchaser will acquire InterRent in an all-cash transaction valued at approximately\n \n $4 billion\n \n , including the assumption of net debt (the \"Transaction\").\n \n\n Under the terms of the Arrangement Agreement, InterRent unitholders (other than Retained Interest Holders, as such term is defined in the Arrangement Agreement and which, as of the date of the Arrangement Agreement included CLV Group an...