Macquarie Global Infrastructure Total Return Fund Inc. announces completion of reorganization into abrdn Global Infrastructure Income Fund
March 13 2023 - 7:41AM
Business Wire
Today, Macquarie Global Infrastructure Total Return Fund Inc.
(the “Fund”), a New York Stock Exchange-listed closed-end fund
trading under the symbol “MGU,” announced that the acquisition of
substantially all of the assets of the Fund by abrdn Global
Infrastructure Income Fund (the “Acquiring Fund”), a New York Stock
Exchange-listed closed-end fund trading under the symbol “ASGI,”
was completed on March 10, 2023 at approximately 5:00 pm ET (the
“Reorganization”). Fund shareholders approved an Agreement and Plan
of Acquisition that provided for the Reorganization at a Special
Meeting of Shareholders held on November 9, 2022.
Relevant details as of the closing of the Reorganization are as
follows:
FUND
NAV/SHARE ($)
CONVERSION RATIO
abrdn Global Infrastructure Income
Fund
20.3964
N/A
Macquarie Global Infrastructure Total
Return Fund Inc.
27.1077
1.329043
Any applicable fractional shares will be paid as cash-in-lieu to
the applicable holder.
The Reorganization was structured as a tax-free transaction. In
early 2024, shareholders of the Fund will receive a Form 1099-DIV
for the calendar year 2023 that will tell shareholders how to
report Fund distributions for federal income tax purposes.
The Fund will be de-listed from the New York Stock Exchange and
dissolved. Questions regarding the exchange of shares of the Fund
in connection with the Reorganization should be directed to 800
522-5465.
Other than Macquarie Bank Limited ABN 46 008 583 542
(“Macquarie Bank”), any Macquarie Group entity noted in this press
release is not an authorised deposit-taking institution for the
purposes of the Banking Act 1959 (Commonwealth of Australia). The
obligations of these other Macquarie Group entities do not
represent deposits or other liabilities of Macquarie Bank.
Macquarie Bank does not guarantee or otherwise provide assurance in
respect of the obligations of these other Macquarie Group entities.
In addition, if this press release relates to an investment, (a)
the investor is subject to investment risk including possible
delays in repayment and loss of income and principal invested and
(b) none of Macquarie Bank or any other Macquarie Group entity
guarantees any particular rate of return on or the performance of
the investment, nor do they guarantee repayment of capital in
respect of the investment.
© 2023 Macquarie Management Holdings, Inc.
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Investor/Broker Inquiries Tel: 866 567-4771 E-mail:
MGU-Questions@macquarie.com Web: www.macquarieim.com/mgu Media
Inquiries Lee Lubarsky 347 302-3000
Lee.Lubarsky@macquarie.com
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