August 4, 2017 / 12:54 PM / in 2 years

Canada's OneREIT to be taken private in a C$1.1 billion deal

(Reuters) - Canada’s OneREIT ONR_u.TO said on Friday it would go private after being bought by SmartREIT and Strathallen Acquisitions Inc in a C$1.1 billion deal, including debt.

Under the terms of the deal, shareholders of OneREIT, which owns and operates shopping centers in Canada, will receive C$4.26 per share in cash and SmartREIT unit.

The company said it was exploring strategic alternatives earlier this year.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Arun Koyyur

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