Slaughter and May is advising SEGRO plc on its recommended takeover of Tritax EuroBox plc. Tritax EuroBox is a specialist investor in continental European logistics real estate. Its portfolio was valued at approximately €1.5 billion as at 31 March 2024.
Tritax EuroBox’s well-diversified, high-quality property portfolio is expected to complement SEGRO’s prime continental European “big box” portfolio and strengthen that part of SEGRO’s business.
Under the terms of the transaction, each Tritax EuroBox shareholder will be entitled to receive 0.0765 new shares in SEGRO for each Tritax EuroBox share held by them, as well as certain dividends which may be announced, declared and paid by Tritax EuroBox prior to completion of the transaction. The transaction will be effected by means of a court-sanctioned scheme of arrangement and is conditional on, amongst other things, approval from Tritax EuroBox’s shareholders and anti-trust approval in Germany.
The transaction values the entire issued and to be issued ordinary share capital of Tritax EuroBox at approximately £552 million and is expected to complete before the end of 2024.
Slaughter and May is working as an integrated team with Cravath Swaine and Moore LLP, Bredin Prat and Hengeler Mueller, who are advising on matters of US, French and German law respectively, and supported SEGRO’s in-house team headed by Stephanie Murton (Head of Legal and Company Secretary).
Connie Day / Trainee, Cyrus Lo / Trainee