March 22, 2017 / 6:28 PM / a year ago

BRIEF-StorageVault enters agreement to acquire all shares of a private Canadian corporation for $396.6 mln

March 22 (Reuters) - StorageVault Canada Inc:

* StorageVault to acquire Canadian storage portfolio for $396.6 million and agrees to internalize management and acquire third party management business for $16 million

* Gross purchase price is payable by issuance of $20 million of common shares of StorageVault at deemed price of $1.70 per common share

* Has reached an agreement in principle with Access Results Management Services to internalize management of StorageVault’s 50 stores

* Remainder of purchase price being paid with funds on hand, debt assumption and mortgage financing

* Purchase price for deal to internalize management, acquire third party management business is payable by issuance of $11 million shares of co

* Agreement also to acquire third party management contracts for over 55 stores from Access Results Management Services for $16 million Source text for Eikon: Further company coverage:

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