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LONDON - LondonMetric Property PLC has acquired the business of Urban Logistics REIT’s investment adviser for a maximum consideration of £8 million, subject to certain conditions, the company announced Tuesday.
The acquisition follows the completion of LondonMetric’s takeover of Urban Logistics on June 23, 2025, and fulfills the company’s previously stated intention to assume management services under its own internal leadership.
Through a newly-incorporated company, LondonMetric has acquired the Investment Advisory Agreement and transferred a small number of staff from the investment adviser to its own operations. The existing advisory agreement will continue to operate for the time being.
This transaction aligns with LondonMetric’s post-acquisition plans outlined in its May 9 announcement and subsequent scheme document, which indicated the company would explore options including amending the management contract at optimal value while maintaining service continuity.
The announcement was made in accordance with Rule 19.6(b) of the Takeover Code, which requires companies to provide updates on stated post-offer intention statements.
LondonMetric had previously stated it would discuss future investment advisory arrangements with Urban Logistics’ adviser "as soon as practicable" following the acquisition’s completion, with the ultimate goal of bringing those services in-house.
The information in this article is based on a press release statement from LondonMetric Property PLC.
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