Gotta love the way it's all on the net before an ASX announcement. Further details from businesswire.com:
Kimco and Valad announce strategic relationship
NEW HYDE PARK, N.Y.--(BUSINESS WIRE)--Kimco Realty Corporation (NYSE: KIM) and Valad Property Group (ASX: VPG) today announced a strategic alliance focused on creating funds management and joint venture opportunities.
Pursuant to the alliance, Kimco and Valad intend to work together to develop their respective real estate businesses by leveraging the complimentary distribution networks of both groups. The alliance is expected to focus on the marketing and introduction of funds management products to major pension funds and other institutional investors.
As a sign of their commitment to the strategic alliance, Kimco purchased an A$200 million convertible note issued by a subsidiary of Valad. Details include:
Coupon of 9.5% payable semi-annually in arrears,
Convertible anytime into Valad securities at a price of A$1.33,
If not converted, the note is repayable by Valad after year five,
Valad has the right to extend the repayment date by 18 months, subject to certain coupon and conversion price resets.
Lazard, together with Lazard Carnegie Wylie in Australia, acted as financial advisor to Kimco. Gresham Partners acted as financial advisor to Valad.
- Forums
- ASX - By Stock
- VPG
- kimco realty to buy shares in valad
kimco realty to buy shares in valad, page-2
-
- There are more pages in this discussion • 53 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add VPG (ASX) to my watchlist
(20min delay)
|
|||||
Last
$1.79 |
Change
0.000(0.00%) |
Mkt cap ! n/a |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
The Watchlist
LPM
LITHIUM PLUS MINERALS LTD.
Simon Kidston, Non--Executive Director
Simon Kidston
Non--Executive Director
SPONSORED BY The Market Online