Funds managed by Ares Management have agreed to acquire Whitestone REIT in a deal valuing the US-listed shopping centre owner at approximately $1.7bn, marking another take-private transaction in the retail real estate sector, according top a report by Reuters.
Under the terms of the agreement, Ares will purchase all outstanding shares and operating partnership units for $19 in cash, representing a premium of just over 12% to the company’s most recent closing price.
The transaction, which has rec...
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