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(Reuters) - A joint venture between Singapore's sovereign wealth fund GIC and Canadian industrial real estate company Dream Industrial REIT will acquire Canada's Summit Industrial Income REIT for C$4.46 billion ($3.30 billion), the companies said in a joint statement on Monday.
The unitholders of Summit, which also manages industrial properties across Canada, will get C$23.50 per unit in cash, representing a 31.1% premium to its last close on Friday.
Including debt, the deal is valued at C$5.9 billion, the companies said.
The deal value, excluding debt, is based on Summit's 189.85 million outstanding units as of June 30.
($1 = 1.3523 Canadian dollars)
(Reporting by Anirudh Saligrama in Bengaluru)
| 1st Jan change | Capi. | |
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| -6.52% | 2.62B | |
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| -9.96% | 6.44B | |
| -9.97% | 6.28B | |
| -7.93% | 6.13B | |
| -12.37% | 5.31B |
DREAM INDUSTRIAL REAL ESTATE INVESTMENT TRUST 