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Taliesin offers early buyback of its zero-dividend preference shares

Taliesin Property Fund Ltd. is offering to buy back all the zero-dividend preference shares of no par value of the company at 138.24 pence apiece.

The early redemption is being carried out as a result of Blackstone Group LP pan-European core-plus unit's affiliates Wren Bidco Ltd. and Canary Bidco Ltd.'s completed takeover of the London-listed real estate investment company. Under its articles, Taliesin must launch the offer for the shares that were not part of the €260 million bid.

Holders of the shares will have until April 10 to accept the redemption offer, with Taliesin to pay for tendered shares April 24. Holders are not required to accept the offer and their shares will be redeemed in due course.

The shares are required to be redeemed on or within 14 days before Sept. 30 at 144.28 pence apiece.