Business
Proposed Acquisition and Placing
Proposed Acquisition and Placing.
About this update from Sirius Real Estate Limited
[{"type":"text","content":"\n \n \n \n RNS Number : 5761R\n Sirius Real Estate Limited\n 08 November 2021\n \n \n \n \n SIRIUS REAL ESTATE LIMITED\n \n \n (Incorporated in Guernsey)\n \n \n Company Number: 46442\n \n \n JSE Share Code: SRE\n \n \n LSE (GBP) Share Code: SRE\n \n \n LEI: 213800NURUF5W8QSK566\n \n \n ISIN Code: GG00B1W3VF54\n \n \n \n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART,\n \n \n DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, CANADA OR JAPAN OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.\n \n \n \n \n \n FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n \n \n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n \n \n \n \n FOR IMMEDIATE RELEASE\n \n \n 8 November 2021\n \n \n Sirius Real Estate Limited\n \n \n Proposed acquisition of BizSpace Group and capital raise to raise c.£135m\n \n \n \n \n \n Sirius Real Estate Limited (the \"Company\" and together with its subsidiaries, \"Sirius\" or the \"Group\"), \n the leading owner and operator of branded business and industrial parks providing conventional space and flexible workspace in Germany,\n is pleased to announce that it has agreed to acquire Helix Investments Limited (the holding company of the BizSpace business) (\"BizSpace\" or \"BizSpace Group\") from Värde Partners (\"Värde\" or the \"Seller\") for a cash consideration of c.£245m, based on an enterprise value of £380m (the \"Acquisition\"). BizSpace is a leading provider of regional flexible workspace, offering light industrial, workshop, studio and out of town office units to a wide range of businesses across the UK. The Acquisition constitutes a Class 2 transaction pursuant to the Listing Rules and a category 2 transaction in terms of the JSE Listings Requirements.\n \n \n The board of directors of the Company (the \"Board\") believes the acquisition of BizSpace represents a highly attractive and strategically important opportunity that allows Sirius to enter, at scale, an under-served wider UK market with a one-step acquisition of an established platform. Furthermore, the Board believes that the Acquisition presents an opportunity for the Company to \n replicate the success of the Sirius model in another...