Urban Logistics REIT disclosed on 7 March a proposal to internalise the REIT’s management structure by acquiring Logistics Asset Management LLP (LAM), its investment adviser, in a deal worth up to GBP12.4 million.
The proposed internalisation, subject to shareholder approval, includes an initial consideration of GBP6.8 million payable in Urban Logistics REIT shares and contingent consideration of up to GBP5.6 million tied to future share price performance.
Under the terms, Richard Moffitt, currently leading LAM, will transition to Chief Executive Officer of Urban Logistics REIT.
Related: Urban Logistics REIT refinances debt and acquires new assets
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