Prologis European Properties (PEPR), a leading European owner of distribution facilities, announced on Tuesday that it has received approval from the Luxembourg stock exchange to delist its referred and ordinary units.
Prologis European Properties (PEPR), a leading European owner of distribution facilities, announced on Tuesday that it has received approval from the Luxembourg stock exchange to delist its referred and ordinary units.
The delisting will be effective from 27 August 2012 for the preferred units and 3 September 2012 for the ordinary units.
Prologis, the owner of the fund, first announced in late June that it had begun the formal process of winding up its listed and externally managed PEPR fund. The New York-listed company indicated it was going to take ownership of the PEPR properties and assume responsibility for its liabilities rather than seek a cash payment for its shares.
Prologis owns 99.5% of the shares in PEPR after emerging victorious last year in a battle with Dutch pension fund APG, the second largest shareholder at the time, as well as Singapore sovereign wealth, for control of the fund.
PEPR was founded in 1999 and listed in 2006.
