LondonMetric Property PLC - London-based property investor - Completes the acquisition of CT Property Trust Ltd. This follows a court hearing on August 7 at which the scheme to facilitate the takeover was approved. CTPT is a real estate investment trust. In May, it agreed to be acquired FTSE 250-listed LondonMetric Property in an all-share deal worth GBP198.6 million. LondonMetric will issue 0.455 of a LondonMetric share for each CTPT share, valuing each CTPT share at 85.5 pence and giving CTPT shareholders a 9.7% stake in LondonMetric.
Londonmetric Property share price: 183.50 pence.
12-month change: down 24%
By Jeremy Cutler, Alliance News reporter
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LondonMetric (LMP)