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RioCan to Acquire KingSett Capital's 50% Interest in Yonge Sheppard Centre; KingSett Capital Investing $100 Million in RioCan Units

Jun 06, 2019 - GlobeNewswire
Mergers and Acquisitions

TORONTO, June 06, 2019 (GLOBE NEWSWIRE) -- RioCan Real Estate Investment Trust ("RioCan", TSX:REI.UN) announced today that it has agreed to acquire from KingSett Capital's Canadian Real Estate Income Fund ("KingSett") its non-managing, 50% co-ownership interest in Yonge Sheppard Centre (the "Centre") for an estimated $331 million, net of certain working capital adjustments. The parties have entered into a firm purchase and sale agreement, subject to customary closing conditions. As part of the...