Standard Life Investments Announces Portfolio Sale

Standard Life Investments Property Income (GB:API) has released an update.

abrdn Property Income Trust Limited is set to sell its entire investment property portfolio, excluding Far Ralia land interest, to GoldenTree Asset Management LP for £351m, which is an 8% discount on its external valuation. The sale is part of a Managed Wind-Down process approved by shareholders, aimed at realizing assets in an orderly manner to maximize returns and expedite cash returns to shareholders. Following the transaction, the company plans to liquidate and delist from the London Stock Exchange, with capital returns to shareholders to commence post-liquidation.

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