ESR moves closer to acquiring Propertylink

ESR Real Estate looks well placed to complete its takeover of Propertylink Group (ASX: PLG) having announced today that it has received acceptances for 80.19% of securities under its takeover offer. The stake includes Centuria Capital Group’s (ASX: CNI) holding of 19.51%, with the offer declared unconditional after having passed 50.1%.

ESR’s takeover offer of $1.164 per unit is set to close on 28 February 2019, and ESR will be looking to reach 90% in order to move to compulsory acquisition.