Monday 20 November 2017

American Realty offer €4.2bn cash to buy Cole Credit

REAL estate investment trust (REIT) American Realty Capital Properties said it offered to buy Cole Credit Property Trust for $5.7bn (€4.2bn) in cash and stock to create the largest publicly traded REIT in the net lease sector.

The offer is valued at more than $9bn including debt, American Realty Capital said in a statement.

In a letter to the Cole Credit Property Trust board, the company asked the trust to call off its planned acquisition of its external adviser, Cole Holdings Corp, saying its offer would provide immediate liquidity to the shareholders of the trust.

Irish Independent

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