APG agrees to sell holding in PEPR to ProLogis at €6.20 per Unit (NL)
Monday 9 May 2011
APG Algemene Pensioen Groep N.V. (‘APG’) advises that it has agreed to sell 100% of its holding of ProLogis European Properties (‘PEPR’) Ordinary and Convertible Preferred Units for a consideration of €6.20 per Unit to ProLogis (‘PLD’), plus an amount equal to any accrued and unpaid preferred dividend in respect of the Preferred Units sold by APG.
As a result, APG confirms that the APG and Goodman led consortium will not be submitting any further proposals to acquire any or all PEPR-Units.
Taking into account the unique circumstances and history of PEPR as an externally managed listed fund, APG is pleased with this outcome, and believes accepting PLD's revised, higher cash offer is in the best interest of APG’s clients.