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AEW UK Long Lease REIT concludes strategic review

AEW UK Long Lease REIT PLC ended its strategic review of options, which included a potential sale of the London-based diversified real estate investment trust's portfolio, without a deal.

The REIT noted that its board determined that none of the proposals presented by interested parties reflect the true value of the company.

"The Board believes that the proposals, in some instances, undervalued certain of the Group's assets or the interested parties were unable to provide certainty of execution, including the availability of new capital," the company said.

AEW UK said its board will roll out a cost reduction exercise in an effort to deliver a fully cash covered dividend for the entire financial year ending June 30, 2021. The REIT's board, together with its advisers, will also continue to look for longer-term ways to expand the company.