Monday 02 December 2019

2 December 2019 - UK-based student housing provider Unite Group plc (LSE: UTG) has completed the acquisition of UK-based Liberty Living Group Plc from Liberty Living Holdings Inc., the company said.

Liberty Living Holdings Inc. is a wholly owned subsidiary of Canada Pension Plan Investment Board

Admission of the 72,582,286 new ordinary shares of GBP 0.25 pence each issued to Liberty Living Holdings Inc. in part consideration for the acquisition to the premium listing segment of the Official List maintained by the UK Listing Authority.

Unite's issued share capital consists of 363,531,737 ordinary shares. There are no ordinary shares held in treasury.

Unite said the deal will accelerate earnings, and enhance scale, placing the company in a position to meet the marketing opportunity from 1.5m students who require accommodation annually.

J.P. Morgan Cazenove served as the Joint Financial Adviser. Numis served as sole sponsor and joint financial adviser. Powerscourt served as PR adviser to Unite.