Skip to content
The acquisition will split First Capital’s real estate portfolio, with Choice buying mostly grocery-anchored properties worth $5 billion, and KingSett taking a mix of assets, including shopping malls and development sites, valued at $4.4 billion. First Capital’s total portfolio is valued at $9.4 billion, including debt. (The Logic, The Globe and Mail)
Talking point: The takeover follows a multi-year turnaround effort by Toronto-based First Capital to stabilize operations in the face of activist investor pressure targeting the firm’s high debt. The deal, if approved, could deliver a significant premium to investors, with unitholders set to receive about 50 per cent more than the stock’s level a year ago. “It just comes down to the board’s fiduciary obligation to investors to do what’s best for them,” First Capital CEO Adam Paul told The Globe and Mail.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
Analysis
It turns out Trump does need something from Canada—aluminum
Briefing
BoC consultation reveals distrust of inflation figures
Carney says developers did not ask for B.C. condo buyout plan
BlackBerry raises its revenue outlook after beating performance expectations
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
