Large Platform Events | Issue 24.31

Summary of Transaction Headlines

Reuters | “Blackstone in Bid to Acquire Shopping Center Owner Retail Opportunity”

Private equity firm Blackstone is in early-stage talks to acquire Retail Opportunity Investments Corp. (ROIC), which owns U.S. shopping centers and has a market value of close to $2 Billion, according to people familiar with the matter. Blackstone’s interest comes after ROIC’s shares lost more than 10% of their value in the last 12 months, underperforming some other real estate investment trusts (REITs). The buyout firm’s approach indicates it sees value in ROIC’s properties, which mainly house supermarkets and drugstores.

Business Wire | “Lineage Announces Launch of Initial Public Offering”

Lineage, Inc. (the “Company”) announced that the company has commenced the roadshow for its underwritten initial public offering of 47,000,000 shares of its common stock. In addition, the underwriters of the offering will have a 30-day option to purchase from the company up to 7,050,000 additional shares of its common stock at the initial public offering price, less underwriting discounts and commissions. The initial public offering price is expected to be between $70.00 and $82.00 per share.

The Retail Bulletin | “SGS Group Appoints New Chief Executive”

Shopping center owner SGS Group has appointed Claire Barber as its new Chief Executive. Due to take up her new role on September 30, Barber has been working for over 18 months as Group Asset Management Director at student accommodation developer Unite Group. Prior to this, she spent three years as Director of Asset Management at Cadogan Estates and 13 years at British Land as Head of Retail Asset Management.