Overview

• Tritax will pay £632 million in cash funded by a new £650 million loan and issue about £375 million of new shares to Blackstone.
• The portfolio includes nine large distribution centres and 32 trading estates across London, the Midlands, the South East and other major cities.
• Tritax’s loan‑to‑value ratio is expected to rise to roughly 35% from 31%, and the company targets about £300 million of property sales over the next 18 months.
• Reports differ on the price per share for the new Tritax stock issued to Blackstone, with conflicting figures cited across outlets.
• Separately, Blackstone is at a preliminary stage of evaluating a potential cash offer for Big Yellow, which has acknowledged meetings with interested parties but says no formal approach has been received.