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BRIEF-Tricon To Acquire U.S. Multi-Family Portfolio For About $1.4 Bln

Published 2019-04-02, 04:29 p/m
© Reuters.  BRIEF-Tricon To Acquire U.S. Multi-Family Portfolio For About $1.4 Bln

April 2 (Reuters) - Tricon Capital Group Inc TCN.TO :

* TRICON TO ACQUIRE ~7,300 UNIT, 2012 VINTAGE U.S. MULTI-FAMILY PORTFOLIO FOR APPROXIMATELY $1.4 BILLION

* TRICON CAPITAL GROUP INC - TRICON WILL ALSO INDIRECTLY ASSUME APPROXIMATELY $916 MILLION OF FUND'S EXISTING DEBT FROM DEAL

* TRICON CAPITAL GROUP - DEAL TO BE FUNDED BY ISSUING 50.8 MILLION TRICON SHARES TO FUND'S UNITHOLDERS AT AN IMPLIED PRICE OF C$13.10 PER TRICON SHARE

* TRICON CAPITAL GROUP INC - TRANSACTION HAS RECEIVED UNANIMOUS APPROVAL FROM BOARD OF DIRECTORS OF EACH OF TRICON AND FUND'S GENERAL PARTNER

* TRICON CAPITAL GROUP - WILL ACQUIRE ALL OF ISSUED & OUTSTANDING LIMITED PARTNERSHIP UNITS OF STARLIGHT U.S. MULTI-FAMILY (NO. 5) CORE FUND

* TRICON CAPITAL GROUP INC - TRANSACTION INCLUDES EQUITY CONSIDERATION OF APPROXIMATELY $496 MILLION

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