Unite Group

Unite Group confirms acquisition discussions regarding Liberty Living

The board of Unite Group has confirmed that discussions regarding the potential acquisition of Liberty Living Group PLC are at an advanced stage.


If the student accommodation provider and Liberty Living’s sole shareholder, the Canada Pension Plan Investment Board (CPPIB), complete the transaction, it will be priced on a NAV-for-NAV (net asset value) basis.

The transaction consideration will be a combination of cash — which is expected to be partly funded via an equity placing — and shares such that CPPIB would become a significant shareholder upon completion.

The board of Unite Group believes the acquisition will leverage its operating platform (PRISM) to deliver significant synergies, sustain its medium-term rental growth outlook, deliver material earnings accretion and improve its earnings yield.

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