Australia’s Cromwell confirms takeover talks with UK REIT RDI

uk real estate investment trust

Global real estate invastment and manager, Australian Cromwell Property Group confirmed that it has made an approach to the board of RDI Reit PLC regarding a possible offer for the entire issued and to be issued share capital of the company.

Crommwell said any transaction would be consistent with Cromwell’s strategy to work with its capital partners to grow funds under management and continue to expand its investment footprint in the UK and Europe.

‘Discussions are ongoing between the parties and a further announcement will be made in due course, but there can be no certainty that a formal offer will be made nor as to the terms of any offer.’ said in statement.

Over half of Cromwell’s A$11.5bn of assets under management as at 31 December 2018 is concentrated in Europe. RDI has a £1.6bn (€1.88bn) diversified portfolio in the UK and Germany.

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