Proposed Privatization

On January 9, 2018 the Trust announced that it had entered into an arrangement agreement with an affiliate of Blackstone Property Partners, pursuant to which Blackstone will acquire all of the outstanding trust units of PIRET for $8.10 per Unit in an all-cash transaction valued at $3.8 billion including debt.  The full press release can be found here: January 9, 2018 press release.

The proposed transaction requires approval by at least two-thirds of the Unitholders of the Trust. The Trust will mail a management information circular and certain related documents to Unitholders in connection with the meeting to consider and vote on the transaction, copies of which will be filed on SEDAR at www.sedar.com.

Key Dates

January 8, 2018 Announcement of Transaction
January 24, 2018 Record Date for Special Meeting of Unitholders
February 28, 2018 Mailing of materials related to the Special Meeting of Unitholders
March 21, 2018 Proxy voting cut off
March 23 ,2018 Special Meeting of Unitholders 
Q2 2018 Closing and delisting is expected to occur in Q2 2018

Key Documents

Transaction Announcement Press Release
Arrangement Agreement

 

Investor Relations Contact
Sylvia Slaughter, Director - Investor Relations
Tel:  (416) 479-8590 ext. 267
Email:  sslaughter@piret.ca

 

Disclaimer
This web page does not provide full disclosure of all material facts relating to the Proposed Privatization. Readers of this web page should read the Management Information Circular and any amendment for disclosure of those facts, especially risk factors, before making a decision on how to vote with respect to the Proposed Privatization.  The completion of the Proposed Privatization is subject to a number of conditions as fully described in the Arrangement Agreement and the Management Information Circular and there can be no assurance that the Proposed Privatization will be completed.

UNITHOLDERS OF THE TRUST SHOULD NOTE THAT ALL INFORMATION ON THIS WEBSITE IS QUALIFIED IN ITS ENTIRETY BY THE ARRANGEMENT AGREEMENT AND THE MANAGEMENT INFORMATION CIRCULAR AND THE INFORMATION CONTAINED THEREIN. UNITHOLDERS OF THE TRUST ARE STRONGLY ADVISED TO READ THE INFORMATION CIRCULAR BECAUSE IT CONTAINS IMPORTANT INFORMATION.

This web page is neither an offer to purchase nor a solicitation of an offer to sell any securities of the Trust.  This web page must not be relied upon in connection with any investment decision.