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Announced

Completed

Blackstone completed the acquisition of PS Business Parks from Public Storage for $7.6bn.

Financials

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Transaction Value£5,923m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium15%
One Off Charge-

Tags

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business parks

Friendly

United States

Acquisition

real estate investment trust

Domestic

Private Equity

Single Bidder

Public

Majority

Commercial REITs

Completed

Synopsis

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Blackstone, a private equity firm, completed the acquisition of PS Business Parks, a publicly-traded REIT, from Public Storage, an American international self storage company, for $7.6bn. "I am extremely proud of everything we have accomplished at PS Business Parks. This transaction is an exceptional outcome for our stockholders and a testament to the incredible company and portfolio of high-quality assets our team has built, acquired and enhanced over the years," Stephen W. Wilson, PS Business Parks President and CEO.

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