Arrowhead and Gemgrow weigh up merging

Mid-sized landlords Arrowhead Properties and Gemgrow Properties are considering a merger.

"The boards are of the view that there is no longer a clear rationale to retain two separate listings and believe that, in the current challenging operating environment, a simplified group structure would be more efficient and create synergistic benefits for all shareholders," the parties said.Gemgrow's shareholders would benefit through improved liquidity and better access to equity capital markets to support growth.

Under the proposed deal, Gemgrow will acquire all of the issued shares in Arrowhead. In return for each of those shares, it would issue and allot 0.8237 Gemgrow B ordinary shares.

Source: Real Estate Daily Report (realestatedailyreport.net)

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