BWP Trust (ASX: BWP), managed by BWP Management Limited, is set to merge with Newmark Property REIT, overseen by Newmark REIT Management Limited, in an all-scrip transaction. The proposed merger involves BWP acquiring all issued securities of NPR through an off-market takeover offer, receiving 0.4 BWP units for every 1.0 NPR security. This represents a 43.1% premium to NPR's closing price.
The merger aims to combine portfolios, creating a $3.5 billion entity with enhanced diversification and improved lease expiry. NPR's assets, primarily leased to Wesfarmers tenants, will contribute to BWP's income and capital growth platform. The Independent Directors of NPR unanimously recommend the merger. The pro forma gearing after the merger is 22.7%, aligning with BWP's target range. The merger supports BWP's strategy of long-term value creation through quality assets, maintaining financial flexibility and offering unitholders a secure, growing income stream with capital growth potential.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
