Novion/Federation Centres merger

Overview:

• Novion and Federation Centres have undertaken a merger.
• The two merging companies are two of the largest ASX-listed owner/managers of retail shopping centres in Australia.
• Novion securityholders approved the transaction and received as consideration 0.8225 Federation securities for every Novion security held.
• Novion will hold 64% of the shares in the newly merged company.
• The merger creates one of Australia's leading REITs, with over $22 billion of retail assets under management across 102 retail assets, generating over $18.2 billion in annual retail sales.
• This deal is the largest real estate transaction on the ASX since 2004.

Katrin Kostadinova - Data analyst