SITQ Acquisition Inc., a subsidiary of Canadian-based investment and real estate management company SITQ Immobilier, has purchased all the remaining common shares of property managers Bentall Corporation.
The deal includes shares which were not deposited under SITQ’s previous offer for the outstanding Bentall common shares made on March 5, 2001, at a price of $20.00 cash per share.
The acquisition of the 190,190 remaining shares were subject to the provisions of the Canada Business Corporations Act. Bentall is now a wholly owned subsidiary of SITQ and its affiliates.
Created in 1984, SITQ’s current portfolio amounts to more than $6bn dollars, which is distributed among 170 buildings and six countries.
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