Regional REIT Ltd - real estate investment trust - Confirms that ARA Asset Management Ltd has acquired a majority shareholding stake in its asset manager London & Scottish Property Investment Management.
In March, Regional REIT said the transaction will cause no disruption to the services provided to the company.
Chair Kevin McGrath says: ‘With the existing dedicated asset management team and the day-to-day operating parameters remaining unchanged, shareholders can be reassured that in the longer term, the board believes the access to the resources of a large global real estate platform will strengthen the asset manager, while preserving its unique regional expertise.’
Current stock price: 53.30 pence
12-month change: down 39%
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