UK Commercial Property REIT (UKCM) has informed Picton that it is terminating discussions with Picton regarding the possible merger.
”UKCM has been informed by its largest shareholder that it does not support the possible merger on the terms proposed,” said UKCM in a statement.
On 8th November 2023, UKCM announced it was in discussions with Picton Property Income (Picton) regarding a possible all-share merger of the two companies.
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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