UK Commercial Property REIT (UKCM) has confirmed that it is in discussions with Picton Property Income (Picton) regarding a possible all-share merger of the two companies.
Under the terms of Picton’s proposal to UKCM, the combined company would be internally managed.
”There can be no certainty that an offer will be made. A further announcement will be made in due course,” said UKCM in a statement.
Picton Property Income is a Real Estate Investment Trust (REIT) investing in UK commercial property market. Picton’s diversified property portfolio consists of 49 assets invested in the industrial, office, retail and leisure sectors.
UK Commercial Property REIT is a FTSE 250 Real Estate Investment Trust listed on the London Stock Exchange. The REIT is managing a £1.26 billion (as at 30 June 2023) diversified portfolio across the UK.
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