Lok’nStore Group plc (GB:LOK) has released an update.
Shurgard Self Storage Limited has agreed to acquire Lok’nStore Group PLC, with the transaction proposed through a Court-sanctioned scheme of arrangement, as announced on April 11, 2024. Although the valuation of Lok’nStore’s property portfolio is still ongoing, the acquisition documentation is expected to be posted by May 21, 2024, with the completion anticipated in July 2024. This strategic move is subject to certain conditions outlined in the initial announcement, and the financial details will be provided in the forthcoming Scheme Document.
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