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Article: Security Capital Atlantic Incorporated Announces Proposal to Become Internally Managed REIT
- Article from:
- PR Newswire
- Article date:
- January 22, 1997
CopyrightCOPYRIGHT 1997 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ATLANTA, Jan. 22 /PRNewswire/ -- Security Capital Atlantic Incorporated (ATLANTIC) (NYSE: SCA) today announced that it has received a proposal from Security Capital Group to exchange Security Capital Group's REIT management and property management companies for ATLANTIC common shares. As a result of the transaction, ATLANTIC would become an internally managed REIT, and Security Capital Group would remain ATLANTIC's largest shareholder.
ATLANTIC's Board of Directors has formed a special committee comprised of independent directors to review the proposed transaction. The transaction is subject to approval by the special committee and the full Board of ...