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Article: Dundee REIT Announces Transaction Involving the Sale of the Central & Eastern Canadian Assets to GE Real Estate for $2.4 Billion and the Purchase by GE Real Estate of an 18% Stake in Dundee REIT
- Article from:
- CCNMatthews Newswire
- Article date:
- June 4, 2007
CopyrightCopyright 2007 CCNMatthews Newswire. Provided by ProQuest LLC. (Hide copyright information)
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TORONTO, ONTARIO--(CCNMatthews - June 4, 2007) - DUNDEE REIT
(TSX:D.UN) today announced that it has entered into a definitive
agreement with respect to a transaction with GE Real Estate pursuant
to which Dundee REIT's operating subsidiary will sell its portfolio
of real estate assets located principally in Ontario, Quebec and
Newfoundland (the "Eastern Portfolio") to GE Real Estate for a total
purchase price of approximately $2.4 billion, including the
assumption of liabilities by GE Real Estate relating to the Eastern
Portfolio.
Dundee REIT's management team will be holding a conference call to
discuss the agreement today at 2:00 p.m. (ET). To access the
conference call, please dial (416) ...