Real Estate & E-Commerce Split Corp. Class A (TSE:RS) has released an update.
Middlefield Limited has announced a strategic move to merge its Middlefield Global Real Asset Fund into Real Estate Split Corp., aiming to provide Real Asset unitholders with enhanced monthly and quarterly cash distributions and the potential for capital appreciation. The merger, slated for completion in December 2024, is expected to offer a more competitive management fee and a more favorable position in the merged entity’s portfolio, including a significant stake in Blackstone LP. Real Asset unitholders are advised to vote in favor of the merger, which, although a taxable event, is anticipated to bring increased overall distribution yields and potentially narrow the current market discount to net asset value.
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