RDI REIT PLC - London and Johannesburg-listed real estate investment trust - Shareholders vote in favour of acquisition by funds managed by private-equity investor Starwood Capital Group for around GBP467.9 million, or ZAR9.76 billion.
At the extraordinary general meeting, the requisite majority of RDI REIT shareholders voted to pass the special resolution to approve and implement the scheme.
Last day of trading on JSE expected April 30, with last day of trading in London to be May 6.
At the end of February, RDI REIT, a London and Johannesburg-listed real estate investment trust, said it has reached an agreement with SOF-12 Cambridge BidCo Ltd, a newly formed company owned by Starwood Capital Europe Advisers LLP, regarding a cash offer for the entire issued share capital of RDI REIT.
Starwood bought a 30% stake in RDI REIT in July last year. The shares already owned by Starwood will not be bought by its acquisition vehicle.
Current stock price in London: 121.00 pence
Year-to-date change: up 27%
Current stock price in Johannesburg: ZAR23.62
Year-to-date change: up 31%
By Paul McGowan; paulmcgowan@alliancenews.com
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