RE:RE:RE:RE:RE:RE:Will open at $8.00 similar last bought deal at $8.10 IMOWHY are you quoting me the whole news release? I read that already. It's different from the $1.14 billion that Cominar was supposedly has sold to them.
QUEBEC — Cominar Real Estate Investment Trust has signed a deal to sell 97 non-core properties to Slate Acquisitions Inc. for $1.14 billion.
The real estate trust (TSX:CUF.UN) says the properties are located in the Toronto area, the Atlantic provinces and Western Canada.
Cominar announced a plan earlier this year to reduce its debt and focus on its core markets in Quebec and the Ottawa region.
Following the deal, Cominar will not own any properties in Western Canada, the Toronto area or the Atlantic provinces.
The trust says it plans to use the net proceeds from the sale to reduce debt.
Cominar owns a real estate portfolio including office properties, retail properties and industrial and mixed-use properties.
Did you read this? I am just wondering if the deal was for $1.14 billion, WHY is the release here for only $191.4 million? If you don't know, don't answer, please!
And IF they are really buying the properties for $1.14 billion, they are going to be stuck with the Western Canada properties which Slate stated on several occassions that they never want to take on and this is really going against their own words. And the reason why Cominar is selling those Western Canada properties is because it wasn't making money so if it wasn't making money for Cominar, HOW is it going to make money for Slate? I am just wondering and I guess I am not the only one wondering; maybe that's why the stock price is tanking.