Sydney, Australia – News reports, citing Bloomberg, indicate that an investment consortium comprising Canadian giant Brookfield Asset Management
and Singapore’s sovereign wealth fund GIC is close to making
a binding takeover bid for Australian company National Storage.
This development comes after the alliance spent weeks conducting
due diligence checks on the National Storage REIT.
It is one of the largest self-storage companies in Australia
and New Zealand, suggesting that the deal may be completed soon.
National Storage, listed on the Australian Stock Exchange,
had already received a preliminary, non-binding offer from the consortium earlier.
The company was valued at approximately 2.7 billion Australian dollars
(equivalent to 1.8 billion US dollars).
Although National Storage did not immediately respond to requests for comment,
Its shares have seen a significant rise in recent trading,
reflecting market optimism about the imminent completion of the deal.
Brookfield and GIC’s growing interest in the self-storage sector
demonstrates the attractiveness of these assets.
Which are typically characterized by stable returns
and relative resistance to economic fluctuations.
For Brookfield, the acquisition of National Storage represents
a strengthening of its presence in Australia and Asia Pacific.
Meanwhile, GIC Fund seeks to deepen its investments in high-growth real estate assets.
A formal binding offer is expected to be made within the next few days,
putting the Australian company on the path to an imminent sale.
