Dream Global REIT wins regulatory approval for C$6.2bn sale to Blackstone

Dream Global REIT wins regulatory approval for C$6.2bn sale to Blackstone

Dream Global REIT has received the regulatory approvals required for the closing of the previously-announced transaction pursuant to which affiliates of real estate funds managed by Blackstone will acquire all of Dream Global REIT’s subsidiaries and assets in an all-cash transaction valued at C$6.2 billion.

Dream Global REIT anticipates that closing will occur on or about December 10, 2019, subject to the satisfaction of all remaining closing conditions to be satisfied at the time of closing.

On closing of the transaction, unitholders of the REIT will receive cash consideration of $16.79 per unit of Dream Global REIT.

The transaction also requires a separation of Dream Asset Management Corporation (a subsidiary of Dream Unlimited Corp.) from its role as external asset manager to the REIT.


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