PropertyLink delists following ESR takeover

Propertylink Group (ASX: PLG) was suspended and delisted from the ASX on 21 March 2019 as a result of its acquisition by ESR Real Estate (Australia). The delisting follows ESR reaching 98% acceptances of its takeover offer priced at $1.164 cash per security, allowing ESR to compulsorily acquire the remaining securities.

It has been a long drawn out acquisition with bids and counter bids for PLG offered by fund manager Centuria, before ESR cemented its position with the winning bid. The acquisition represents a significant step for ESR’s entry into the Australian market, after having acquired a stake in the Charter Hall Commercial and Industrial Property fund in July 2018.