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

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