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W.P. Carey To Buy Non-traded REIT Corporate Property Associates 16 - Global

W. P. Carey Inc. (WPC) has agreed to buy one of its non-traded real estate investment trust affiliate, Corporate Property Associates 16 - Global Inc., in a transaction valued at about $4.0 billion.

Subject to the terms and conditions of the merger agreement, CPA:16 - Global stockholders will receive shares of W. P. Carey common stock for their shares of CPA:16 - Global stock pursuant to an exchange ratio based upon a value of $11.25 per share of CPA:16 - Global and the volume weighted average trading price of W. P. Carey common stock for the five consecutive trading days ending on the third trading day preceding the closing of the transaction.

Following the merger, the combined company is expected to have an equity market capitalization of approximately $6.5 billion and a total enterprise value of approximately $10.1 billion.

by RTTNews Staff Writer

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