Publications

W. P. Carey announces proposed $2.7b merger with CPA®:18
Real Estate - FEBRUARY 28, 2022

To read this full article you need to be subscribed to Newsline.

Sign in Sign up for a FREE subscription

W. P. Carey announces proposed $2.7b merger with CPA®:18

by Andrea Zander

W.P. Carey announced that its board of directors has unanimously approved entry into a definitive-merger agreement pursuant to which Corporate Property Associates 18 – Global Incorporated (CPA:18) will be acquired by W. P. Carey in a transaction valued at approximately $2.7 billion, including the assumption of debt.

The transaction has also been approved by CPA:18’s board of directors upon the unanimous recommendation of a special committee of CPA:18’s independent directors.

Upon closing, W. P. Carey stockholders will own about 93 percent of the combined company, and CPA:18 stockholders will own about 7 percent.

“This acquisition presents a unique and compelling opportunity to acquire assets we know extremely well that are aligned with our current portfolio, in a transaction that’s immediately accretive to our Real Estate AFFO per share,” said Jason Fox, W. P. Carey’s CEO. “We expect this accretion to largely replace the income we generated from

Forgot your username or password?