APG agrees to sell holding in PEPR to ProLogis at EUR 6.20 per unit
09 may 2011 - APG
Amsterdam, 6 May 2011 -- APG Algemene Pensioen Groep N.V. (APG) advises that it has agreed to sell 100% of its holding of ProLogis European Properties (PEPR) ordinary and convertible preferred units for a consideration of EUR 6.20 per unit to ProLogis (PLD) plus an amount equal to any accrued and unpaid preferred dividend in respect of the Preferred Units sold by APG.
As a result, APG confirms that the APG and Goodman led consortium will not be submitting any further proposals to acquire any or all PEPR-Units.
Taking into account the unique circumstances and history of PEPR as an externally managed listed fund, APG is pleased with this outcome, and believes accepting PLD's revised, higher cash offer is in the best interest of APG’s clients.
APG, a financial services provider in the collective pension market, provides pension fund administration, asset management, management support and communication services to pension funds. For these pension funds and their 4.5 million active and retired participants from the public and private sector, APG manages pension assets of in total approximately 277 billion Euros (as at Q4 2010). APG administrates over 30% of all collective pension schemes in the Netherlands.