Betaville

ABRDN Property Income Trust and Custodian Property Income REIT in £538 million all share "merger"

Consolidation among London-listed REITs continues.

This morning Custodian Property Income REIT is acquiring ABRDN Property Income Trust for £237 million with its own stock, which is a premium of around 30pc.

It looks like Custodian Property Income REIT's shareholders will end up with the lion's share of the equity in the new company, so I'm not sure this really is a "merger" as billed in the announcement...