LondonMetric Property has completed its £198.6m acquisition of CT Property trust, it said in a regulatory filing today (8 August).
As part of the deal, 105.6 million new LondonMetric shares were admitted to the London Stock Exchange today. LMP said the acquisition added a "high quality and complementary portfolio of assets" with strong management opportunities and rental reversion potential. The deal will also offer "material" cost savings, economies of scale and an "attractive" debt structure, it argued, as the trust expects the acquisition to be earnings accretive. CT Property trust unveils timeline for planned acquisition Following completion, LMP's portfolio value has increased to £3.2bn and will genera...
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