iStatus: Upcoming/New Filing
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.)
