(Alliance News) - RDI REIT PLC on Tuesday said the scheme of arrangement for RDI's acquisition by private-equity investor Starwood Capital Group has now come into effect, with its now shares suspended.
The London and Johannesburg-listed real estate investment trust said end-April that its shares are set to be delisted from the London Stock Exchange on May 6.
On the Johannesburg Stock Exchange, RDI's shares were suspended on Monday, with its delisting expected to take effect on May 7.
Starwood is acquiring RDI for GBP467.9 million, or ZAR9.76 billion.
At the end of February, RDI REIT, a London and Johannesburg-listed real estate investment trust, said it had reached an agreement with SOF-12 Cambridge BidCo Ltd, a newly formed company owned by Starwood Capital Europe Advisers LLP, regarding the cash offer.
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.
By Greg Roxburgh; gregroxburgh@alliancenews.com
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