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9 December 2020
The Board of Tritax EuroBox plc (the “Company”) notes today’s announcement by Tritax Management LLP (the “Manager”) and Aberdeen Standard Investment (“ASI”) (https://www.tritax.co.uk/pressrelease/asi-to-acquire-interest-in-tritax-dec-2020) in relation to ASI’s intention to acquire a 60% interest in the Manager.
The Board has satisfied itself, through discussions with the Manager and with ASI, that the partnership with ASI both strengthens the Manager and is aligned with the long-term interests of the Company’s shareholders.
The Board is reassured that there are no changes to the personnel responsible for the Company with its dedicated fund management team, led by Nick Preston, continuing to retain operational independence and autonomy over decision making under the Tritax brand. In addition, the Board sees the potential for longer term benefits for shareholders arising from the Manager forming part of ASI’s large investment platform which has a network of professionals based in local offices across Europe.
Commenting on the announcement, Robert Orr, Chairman of Tritax EuroBox plc said:
“As our recent results demonstrated, the Company is very well positioned in the European logistics markets where growth is accelerating, with high-quality assets and valuable partnerships with key developers. The Board believes the strategic partnership between the Manager and ASI is a positive step for the Company, supporting our overall growth objectives. The Board believes the transaction complements the Manager with a strong, stable and long-term institutional partner that has extensive experience in European real estate investment.”
For further information please contact:
+44 (0) 20 8051 5070
Nick Preston (Partner, Fund Manager)
Jo Blackshaw (Investor Relations)
Tritax EuroBox plc
+44 (0) 20 8051 5070
Robert Orr (Chairman)
Maitland/AMO (Media inquiries)
+44 (0) 20 7379 5151
Jefferies International Limited
+44 (0) 20 7548 4329
+44 (0) 20 7439 3631
The Company’s LEI is: 213800HK59N7H979QU33.
Tritax EuroBox plc invests in and manages a well-diversified portfolio of prime Continental European logistics real estate assets that are delivering an attractive capital return and secure income to shareholders. These assets fulfil key roles in the logistics and distribution supply-chain focused on the most established logistics markets and on the major population centres across core Continental European countries.
Occupier demand for Continental European logistics assets is in the midst of a major long-term structural change principally driven by the growth of e-commerce. This is evidenced by technological advancements, increased automation and supply-chain optimisation.
The Company’s Manager, Tritax Management LLP, has assembled a full-service European logistics asset management capability including specialist “on the ground” asset and property managers with strong market standings in the Continental European logistics sector.
Further information on Tritax EuroBox plc is available at www.tritaxeurobox.co.uk