National Storage REIT investors back Brookfield-GIC takeover schemes

National Storage REIT ( (AU:NSR) ) has shared an update.

National Storage REIT securityholders have overwhelmingly approved a suite of transaction resolutions to facilitate the unstapling of NSR securities and the implementation of share and trust schemes. The schemes will enable a consortium led by Brookfield Asset Management funds and affiliates of GIC to acquire all issued NSR securities, advancing a change of control for the self-storage operator.

The proposals received very strong support, with between 88.47% and 97.92% of votes in favour across the key meetings, underscoring investor backing for the takeover terms. The transaction now hinges on final approvals from the Supreme Court of New South Wales, after which the schemes would become effective, NSR securities would be suspended from ASX trading, and consideration would be paid to securityholders, marking NSR’s transition into private ownership.

The most recent analyst rating on (AU:NSR) stock is a Hold with a A$2.80 price target. To see the full list of analyst forecasts on National Storage REIT stock, see the AU:NSR Stock Forecast page.

More about National Storage REIT

National Storage REIT is an Australian-listed real estate investment trust focused on self-storage assets, held through National Storage Holdings Limited and National Storage Property Trust. The group operates storage centres across Australia and New Zealand, providing space solutions to retail, commercial and corporate customers in a growing alternative real assets sector.

Average Trading Volume: 7,367,169

Technical Sentiment Signal: Buy

Current Market Cap: A$3.92B

Learn more about NSR stock on TipRanks’ Stock Analysis page.