DGAP-Adhoc: Dream Global Real Estate Investment Trust: Dream Global REIT and funds managed by Blackstone reach agreement for the acquisition of Dream Global REIT

DGAP-Ad-hoc: Dream Global Real Estate Investment Trust / Key word(s): 
Mergers & Acquisitions 
Dream Global Real Estate Investment Trust: Dream Global REIT and funds 
managed by Blackstone reach agreement for the acquisition of Dream Global 
REIT 
 
16-Sep-2019 / 02:32 CET/CEST 
Disclosure of an inside information acc. to Article 17 MAR of the Regulation 
(EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
 
*Dream Global Real Estate Investment Trust: Ad-hoc-disclosure according to 
Art. 17 MAR (EU Regulation 596/2014) - Dream Global REIT and funds managed 
by Blackstone reach agreement for the acquisition of Dream Global REIT* 
 
Toronto, September 15, 2019 - Dream Global REIT ("Dream Global") today 
entered into a master acquisition agreement (the "Acquisition Agreement") 
with affiliates of real estate funds managed by Blackstone (collectively, 
"Blackstone"), pursuant to which Blackstone will acquire all of Dream 
Global's subsidiaries and assets in an all-cash transaction valued at CAD6.2 
billion (the "Transaction"). On closing of the Transaction, Dream Global 
unitholders ("Unitholders") will receive cash consideration of CAD16.79 per 
Dream Global unit ("Unit"). Based on the closing price for Dream Global's 
Units on September 13, 2019, the last trading day prior to announcement of 
the Transaction, the offer represents a premium of 18.5% to that price. The 
independent trustees of Dream Global's board of trustees have unanimously 
approved the transaction. 
Dream Asset Management ("DAM") has served, under an asset management 
agreement (the "AMA"), as the external asset manager of Dream Global. The 
Transaction requires a separation of the AMA from DAM. As part of the 
Transaction, DAM will receive an aggregate of CAD395.2 million with respect 
to the REIT's obligations under the AMA. One of the considerations in 
arriving at the negotiated separation payment is the incentive fee, which 
has a calculated value of CAD379 million under the AMA. 
The consummation of the Transaction will be subject to the approval of at 
least 66 2/3% of the votes cast by Unitholders at a special meeting of 
Unitholders and a majority of the votes cast by Unitholders other than DAM 
and other related parties. The Transaction is subject to other customary 
conditions, including regulatory approvals, and is expected to close in 
December 2019. The Transaction is not subject to a financing condition. 
Dream Global has suspended its normal monthly distributions, effective 
following the payment on September 16, 2019 of its August distribution. 
Dream Global intends to announce its intentions relating to its existing 
EUR375 million 1.375% Senior Notes due 2021 and EUR300 million 1.750% Senior 
Notes due 2026 (collectively, the "Notes") in due course, including (but not 
limited to) potentially repurchasing the Notes pursuant to the change of 
control provisions included in the Notes, or otherwise. 
 
Dream Global REIT contacts: 
Dream Global Real Estate Investment Trust 
P. Jane Gavan 
President and Chief Executive Officer 
[phone] 
[e-mail] 
 
Dream Global Real Estate Investment Trust 
30 Adelaide Street East, Suite 301 
Toronto, ON M5C 3H1 
Canada 
ISIN: CA26154A1066, XS1651850569, XS2019210231 
WKN: A1131Y, A19L8A, A2R4AX 
Listed: Regulated Market in Frankfurt; Regulated Unofficial Market in 
Berlin, Munich, Stuttgart, Tradegate Exchange; Toronto 
 
16-Sep-2019 CET/CEST The DGAP Distribution Services include Regulatory 
Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
Language:    English 
Company:     Dream Global Real Estate Investment Trust 
             30 Adelaide Street East 
             M5C 3HI Toronto 
             Canada 
Phone:       [phone] 
Fax:         [phone] 
E-mail:      [e-mail] 
Internet:    www.dreamglobalreit.ca 
ISIN:        CA26154A1066 
WKN:         A1131Y 
Listed:      Regulated Market in Frankfurt; Regulated Unofficial Market in 
             Berlin, Munich, Stuttgart, Tradegate Exchange; Toronto 
EQS News ID: 873711 
 
End of Announcement DGAP News Service 
 
873711 16-Sep-2019 CET/CEST 
 
 

(END) Dow Jones Newswires

September 15, 2019 20:32 ET (00:32 GMT)