Slate Grocery REIT Enters into Definitive Agreement to be Acquired by Brixmor and Everview Partners in a US$2.3 Billion Transaction for US$13.00 per Unit in Cash
Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”), an owner and operator of U.S. grocery-anchored real estate, announced today that it has entered into a definitive arrangement agreement (the “Arrangement Agreement”) with a joint venture (the “Purchaser”) between Brixmor Property Group Inc. (“Brixmor”) and affiliates of Everview Partners, L.P. (“Everview”), pursuant to which the Purchaser will acquire all of the issued and outstanding trust units of the REIT (the “Units”, and the holders thereof, the “Unitholders”) for US$13.00 in cash per Unit (the “Consideration”), representing a total enterprise value of approximately US$2.3 billion (the “Transaction”).
Slate Grocery REIT Provides Capital Allocation Update in Connection with Ongoing Strategic Review Process
Slate Grocery REIT (TSX: SGR.U) (TSX: SGR.UN) (the “REIT”) announced today that the Board of Trustees (the “Board”), upon the recommendation of its independent Special Committee (the “Special Committee”), has approved the suspension of monthly cash distributions to enhance the REIT’s financial and strategic flexibility, pending the outcome of the Special Committee’s previously announced review and evaluation of strategic alternatives.
Slate Grocery REIT Special Committee to Review Strategic Alternatives
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”).
