BRIEF-Dundee Acquisition & CHC Student Housing Announce Proposed Business Combination

Thu Aug 25, 2016 6:14am EDT
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Aug 25 (Reuters) - Dundee Acquisition Ltd

* Dundee Acquisition Ltd. And CHC Student Housing Corp. Announce proposed business combination and series of student housing property acquisitions to create Canadian Student Living Group Inc.

* Aggregate transaction value of up to $420 million for entire portfolio of assets

* Shareholders of DAQ will exchange shares of DAQ for shares of CHC at a ratio of 1.75304 CHC shares for every one share of DAQ

* DAQ will thereupon become a wholly-owned subsidiary of CHC and will then be amalgamated with CHC

* Outstanding shares of CSL will be consolidated on basis of 0.57044 post-consolidation shares for each one pre-consolidation shares

* CSL expects to have 100% ownership of 11 properties and a 50% interest in 9 co-owned properties Source text for Eikon: Further company coverage: