Melcor REIT and Melcor Developments Announce Closing of Arrangement

Provided By GlobeNewswire

Last update: Apr 23, 2025

EDMONTON, Alberta, April 23, 2025 (GLOBE NEWSWIRE) -- Melcor Real Estate Investment Trust (“Melcor REIT” or the “REIT”) (TSX: MR.UN) and Melcor Developments Ltd. (“Melcor” or the “Purchaser”) (TSX: MRD) announce that, in accordance with the previously announced plan of arrangement (the “Plan of Arrangement”) pursuant to the Business Corporations Act (Alberta), (i) Melcor acquired its unowned equity interest (approximately 45%) in Melcor REIT Limited Partnership (“REIT LP”) for $5.50 per Class A LP Unit in cash consideration (the “REIT LP Sale”); and (ii) the REIT used the proceeds from the REIT LP Sale to repurchase and cancel all of the REIT’s outstanding participating trust units (each, a “Unit”) for consideration (the “Consideration”) of $5.50 per Unit less any applicable withholding taxes, (the “Arrangement”).