Dundee Corporation Acquires Interest in Dundee International Real Estate Investment Trust
August 03 2011 - 5:57PM
Marketwired
In accordance with regulatory requirements, Dundee Corporation
(TSX: DC.A)(TSX: DC.PR.A)(TSX: DC.PR.B) ("Dundee") announced today
that it has acquired, directly and indirectly, 12,000,000 units of
Dundee International Real Estate Investment Trust ("Dundee
International REIT") pursuant to its initial public offering for
aggregate consideration of $120 million. In addition, in connection
with the founding and organization of Dundee International REIT, a
subsidiary of Dundee previously acquired 800,000 units. In the
aggregate, these holdings represent a 32.16% interest in Dundee
International REIT.
The position in Dundee International REIT was acquired for
investment purposes and may be increased or decreased in the future
as considered appropriate in light of investment criteria, market
conditions and other factors and in accordance with the provisions
of applicable securities legislation.
Contacts: Dundee Corporation Ned Goodman President and Chief
Executive Officer (416) 365-5665 Dundee Corporation Lucie Presot
Vice President and Chief Financial Officer (416) 365-5157
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