Tricon Residential Inc. Receives Final Court Approval for Take Private by Blackstone Real Estate
Retrieved on:
Friday, April 5, 2024
Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that the Ontario Superior Court of Justice (Commercial List) has granted a final order approving its previously announced statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) pursuant to which Blackstone Real Estate Partners X, together with Blackstone Real Estate Income Trust, Inc. will acquire all of the outstanding common shares of the Tricon (“Common Shares”) for US$11.25 per Common Share in cash (the “Transaction”).
Key Points:
- Tricon Residential Inc. (NYSE: TCN, TSX: TCN) (“Tricon” or the “Company”) today announced that the Ontario Superior Court of Justice (Commercial List) has granted a final order approving its previously announced statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”) pursuant to which Blackstone Real Estate Partners X, together with Blackstone Real Estate Income Trust, Inc. will acquire all of the outstanding common shares of the Tricon (“Common Shares”) for US$11.25 per Common Share in cash (the “Transaction”).
- Completion of the Transaction remains subject to the satisfaction or waiver of certain customary closing conditions, including the receipt of regulatory approval under the Investment Canada Act.
- Subject to the satisfaction or waiver of all of the conditions to the Transaction, the Transaction is expected to be completed in the second quarter of this year.
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