Brief: Blackstone To Take Apartment Income REIT Private For About $10 Bln

Apartment Income REIT

08/04/2024 13:36

April 8 (Reuters) - Blackstone Inc  BX.N :
    * BLACKSTONE REAL ESTATE TO TAKE AIR COMMUNITIES PRIVATE FOR
APPROXIMATELY $10 BILLION
    * BLACKSTONE INC - PLANS TO INVEST MORE THAN $400 MILLION TO
MAINTAIN AND IMPROVE EXISTING PORTFOLIO
    * BLACKSTONE INC - PROPOSED DEAL FOR $39.12 PER SHARE IN AN
ALL-CASH TRANSACTION
    * BLACKSTONE INC - TRANSACTION WAS UNANIMOUSLY APPROVED BY
AIR
COMMUNITIES BOARD OF DIRECTORS AND IS EXPECTED TO CLOSE IN Q3 OF
2024
    * BLACKSTONE INC - AIR HAS SUSPENDED PAYMENT OF ITS
QUARTERLY
DIVIDEND, EFFECTIVE IMMEDIATELY
    * BLACKSTONE INC: AS A CONDITION TO TRANSACTION, AIR HAS
SUSPENDED
PAYMENT OF ITS QUARTERLY DIVIDEND, EFFECTIVE IMMEDIATELY

Source text for Eikon:  ID:nBw8zKryMa 
Further company coverage:  BX.N 

 ((Reuters.Briefs@thomsonreuters.com;))