LGY Acquisition LP Completes Acquisition of Legacy Hotels REIT
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LGY Acquisition LP Completes Acquisition of Legacy Hotels REIT
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Category: Worldwide
This is a press release selected by our editorial committee and published online for free on 2007-09-19
LGY Acquisition LP (the "Offeror") and Legacy Hotels Real Estate Investment Trust ("Legacy REIT") (TSX:LGY.UN) announced today that the Offeror has completed the take up and payment for the 118,116,109 trust units of Legacy REIT deposited to the Offeror's take-over bid. The Offeror has also caused Legacy REIT to effect an amendment to its Declaration of Trust and has caused Legacy REIT to redeem all trust units that were not deposited to the Offeror's bid. The redemption payment of $12.60 per trust unit, less applicable withholding taxes, was also made today.
The Offeror now owns 100% of Legacy REIT and will cause Legacy REIT's trust units to be de-listed from the Toronto Stock Exchange.
About the Offeror
The Offeror is a limited partnership formed by InnVest Real Estate Investment Trust (TSX:INN.UN) and Cadbridge Investors LP (a limited partnership formed by Cadim, a division of the Caisse de depot et placement du Quebec, and an affiliate of Westmont Hospitality Management Limited).
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