Acquirer: GIC Real Estate, Inc. (Singapore); Centerbridge Partners, L.P. (U.S.)
Acquired: INDUS Realty Trust, Inc. (U.S.)
Value: $868 million
Industry Tags: Real Estate
On February 22, 2023, INDUS Realty Trust, Inc. (Nasdaq: INDT), a publicly traded “U.S. based industrial/logistics REIT . . . announced it has entered into a definitive merger agreement under which affiliates of Centerbridge Partners, L.P. . . . a leading global private investment firm with deep experience in real estate, and GIC Real Estate, Inc. (‘GIC’), a global institutional investor, will acquire all of the outstanding shares of [INDUS Realty Trust, Inc.] in an all-cash transaction valued at approximately $868 million.” (Press Release, INDUS Realty Trust, Inc. Form 8-K, Ex-99.1, Feb. 22, 2023, SEC Filing.) CFIUS Approval is a condition to closing the transaction. (See Section 8.3(f), Agreement and Plan of Merger, INDUS Realty Trust, Inc. Form 8-K, Ex-2.1, Feb. 22, 2023, SEC Filing.) On June 22, 2023, INDUS Realty Trust, Inc. “received written notice from CFIUS that it had concluded all action under Section 721 with respect to the transaction contemplated by the Merger Agreement, constituting receipt of ‘CFIUS Approval’ as defined under the Merger Agreement.” (INDUS Realty Trust, Inc. Form 8-K, June 23, 2023, SEC Filing.) INDUS Realty Trust announced on June 29, 2023, the “completion of the previously announced merger. . .” (INDUS Realty Trust Inc, Form 8-K, Ex-99.1, June 29, 2023, SEC Filing.)
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