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ESR launches compulsory acquisition of Propertylink securities

ESR Real Estate (Australia) Pty Ltd. is buying the remaining securities it does not already own in Propertylink, following the closing of its takeover offer and pursuant to Australia's takeovers code.

The ESR Cayman Ltd. subsidiary is offering A$1.164 in cash per Propertylink security, the same amount as its buyout bid, with the compulsory acquisition expected to be settled within five to six weeks from March 14.

ESR's voting power in the industrial real estate investment trust stood at 98.00% when the offer closed March 8 at 7 p.m. Sydney time.