-- National Storage REIT (ASX:NSR) said the court hearing to approve the acquisition of all the shares of National Storage by Iridium SP BidCo and ITG Australia TS Sub as trustee for Iridium SP Bid Trust and grant a second judicial advice will take place on April 21 in the Supreme Court of New South Wales, according to a Tuesday Australian bourse filing.
The bidders are entities established and jointly indirectly owned by a consortium of funds owned or managed by Brookfield Asset Management or its affiliates and their managed funds, as well as affiliates of GIC. Under the deal, the REIT's shareholders will receive AU$2.86 in cash per stapled security.
National Storage's security holders have the right to appear and be heard at the court hearing and may oppose the approval of the scheme or the granting of the judicial advice, the filing noted.