- What Blackstone completed its $3.5b acquisition of Tricon
- Why Blackstone agreed in January to take Tricon private
- What next Tricon Residential’s shares are expected to be delisted on May 2
Blackstone has completed its US$3.5b acquisition of Tricon Residential Inc.
Blackstone Real Estate Partners X and Blackstone Real Estate Income Trust acquired all outstanding common shares of Tricon for US$11.25 per share in cash.
Tricon shares will be delisted from the New York Stock Exchange and Toronto Stock Exchange on or about May 2. Blackstone agreed to take the Toronto-based company private in January.
The take-private deal was approved by Tricon shareholders in March with some 99.3% of common shares voting in favor of the acquisition.
Tricon owns about 38,000 single-family rental homes in the U.S. Sunbelt and multifamily properties in Toronto.
