BRIEF-Elad Canada inc to buy 3.7 million units of Agellan Commercial REIT

Mon Oct 3, 2016 5:46pm EDT
 
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Oct 3 (Reuters) - Elad Canada Inc

* Entered agreement to acquire 3.7 million units of agellan commercial real estate investment trust

* Units of agellan to be acquired by elad genesis ltd partnership, subsidiary of elad, at a price of $9.82 per unit

* Intends to engage with members of agellan's board regarding its business,prospects,board composition among other things

* As a result of acquisition elad will own or control approximately 13.4% of issued and outstanding units of agellan Source text for Eikon: Further company coverage: