Dec 8 (Reuters) – Australia's National Storage REIT said on Monday it has signed a scheme implementation deed with a consortium backed by Brookfield Asset Management and Singapore's GIC for a buyout deal valuing the self-storage operator at about A$4 billion ($2.65 billion). The deal follows National Storage's late-November disclosure that it had received a non-binding proposal from the consortium, which offered NSR shareholders A$2.86 cash per share, a 26.5% premium to NSR's November 25 closing price. The bidders have since completed due diligence and signed a binding deed. National Storage, established in 1995, serves residential and commercial customers at over 270 locations in Australia and New Zealand, its website shows. NSR's board unanimously recommended the deal, saying it will back the transaction in the absence of a superior proposal and subject to an independent expert determining it is in the best interests of security holders. ($1 = 1.5074 Australian dollars) (Reporting by Roshan Thomas in Bengaluru; editing by Diane Craft)
(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)
