Business
Slate Grocery REIT Special Committee to Review Strategic Alternatives
Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), today confirmed that th...
About this update from Slate Grocery Reit Class U
[{"type":"text","content":"Slate Grocery REIT Special Committee to Review Strategic Alternatives\n\n\n\n\n\n\n Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), today confirmed that the Board of Trustees has established a special committee of independent trustees (the “Special Committee”) in response to an unsolicited proposal (the “Proposal”) received from affiliates of Slate Asset Management, the external manager of the REIT (the “Manager”).\n \n\n The Special Committee has a broad mandate to consider and evaluate a broad range of strategic alternatives, including, but not limited to, a sale of the REIT. At this point, the Special Committee has determined to initiate a formal process to solicit proposals from third parties.\n \n\n “The Committee recognizes that the value of the underlying portfolio may not be fully reflected in the public markets, and as such, we are evaluating various alternatives ranging from initiatives under the status quo, to a whole company sale,” said Marc Rouleau, Chair of the Special Committee. “We are focused on finding a path that maximizes value for all unitholders”, said Andrea Stephen, Chair of the Board.\n \n\n The Special Committee has retained Evercore as its exclusive financial advisor and Fasken Martineau DuMoulin LLP and Sidley Austin LLP as its independent legal counsel. The Special Committee has also engaged Raider Hill Advisors, L.L.C. as its exclusive special real estate advisor.\n \n\n No unitholder action is required at this time. There can be no assurance that the Special Committee’s process will result in any transaction or other strategic outcome.\n \n\n The Special Committee does not intend to provide further comment regarding the status of the Special Committee’s process unless and until it determines that further disclosure is appropriate or required in accordance with applicable securities laws.\n \n\n\n About Slate Grocery REIT (TSX: SGR.U / SGR.UN)\n \n\n\n Slate Grocery REIT is an owner and operator of U.S. grocery-anchored real estate. The REIT owns and operates critical real estate infrastructure across major U.S. metro markets that communities rely upon for their everyday needs. The REIT’s resilient grocery-anchored portfolio and strong credit tenants are expected to provide unitholder...