September 13, 2018 / 12:17 AM / 3 months ago

Australia's Propertylink makes $541 mln offer for Centuria Industrial REIT

Sept 13 (Reuters) - Real estate investment trust Propertylink Group said on Thursday it had made a takeover offer for Centuria Industrial REIT, valuing the company at about A$755 million ($541.3 million).

Propertylink said it was offering about 2.5 of its securities and A$0.33 in cash for each unit of Centuria, valuing the units at about A$3.04 each. The figure represents a premium of about 10 percent to Centuria’s last close.

Propertylink said the transaction, if accepted, was expected to be accretive to its earnings and distribution per security for fiscal 2019. ($1 = 1.3947 Australian dollars) (Reporting by Ambar Warrick in Bengaluru; Editing by Stephen Coates)

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