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Prudential Global Real Estate Corp. and Global Capital & Financial Corp. announce merger with Russell Assets Management Corp.

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Prudential Global Real Estate Corp. and Global Capital & Financial Corp. announce merger with Russell Assets Management Corp.

Ajouté le : 01 janvier 2013
Lecture(s) : 6
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Prudential Global Real Estate Corp. and Global Capital & Financial Corp. announce merger with Russell Assets Management Corp.
PR Newswire TORONTO, November 5, 2012
TORONTO,November 5, 2012/PRNewswire/ --
Prudential Global Real Estate Corp. and Global Capital & Financial Corp. (the "Company") announced today that the majority shareholders of the Companies accepted and approved the proposal of Russell Assets Management Corp. to acquire all the outstanding common and preferred shares of the Companies.
Russell Assets Management Corp. will acquire all the outstanding shares of Prudential Global Real Estate Corp. and Global Capital & Financial Corp. at a price of 25% over the last average known closing shares price on the Frankfurt, Berlin and Stuttgart stock exchanges.
Russell Assets Management Corp. will issue to shareholders of Prudential Global Real Estate Corp. and Global Capital & Financial Corp. 8.25% convertible senior unsubordinated bonds.
The Companies anticipate that the said transactions would be closed on or beforeDecember 1, 2012. Russell Assets Management Corp. is committed to do its best efforts to list all the new issued bonds on one or more stock exchanges upon regulatory approval.
Prudential Global Real Estate Corp. also announced that it is in the process to list for trading the shares of Advanced Medical Solutions Corp. which have been distributed to shareholders onAugust 31, 2012 in a form of spin off distribution.
Prudential Global Real Estate Corp. common shares are listing on theFrankfurt, Berlin and Stuttgart stock exchange under the symbol PUE.
Global Capital & Financial Corp. common shares and series b preferred shares are listing on theFrankfurt, Berlin and Stuttgart stock exchange under the symbol 017B and 017.