Balanced Commercial Property Trust shines on deal with Starwood Capital
04/09/2024 08:34
** Shares in investment co Balanced Commercial Property
Trust BCPT.L up 10.2% at 95 pence; stock at its highest level
since December 2022
** Private investment firm Starwood Capital reaches deal
with BCPT for a recommended offer for about 673.5 mln pounds
($883.16 mln)
** Under terms of the deal, BCPT shareholders will receive
96 pence in cash, an 11% premium to Tuesday's close
** The offer will be funded by equity invested by Starwood
** As of last close, BCPT up 19% YTD
($1 = 0.7626 pounds)
(Reporting by Radhika Anilkumar in Bengaluru;)
((Radhika.Anilkumar@thomsonreuters.com;))