- Green Reit said it had accepted a €1.34bn takeover offer from London-based property investment group Henderson Park.

Under the terms of the acquisition, Green REIT Shareholders would be entitled to receive €1.9135 in cash for each share, valuing the company at approximately €1.34bn.

'Having undertaken a detailed strategic analysis, the Board determined that it was in the interests of shareholders to conduct a sale process to solicit offers for the company or its assets,' the company said.

The offer comes as the company reported that annual earnings – EPRA NAV – rose 5% to 187.1 cents a share amid an increase in rental income and its portfolio value.

Contracted annual rent rose to €79.4m from €71.7m a year earlier, and the portfolio value increased 8% to €1.53bn.

'This has been another year of growth in our rental income and underlying earnings, with further positive contributions from our development schemes and asset management initiatives to the Company's income base. Our contracted annual rent is now up to €79.4 million, or €83.0 million when lettings from lease deals with terms agreed are included, representing an increase of 10% on the last reported contracted annual rent on 31 December 2018 of €75.5 million,' the company said.

At 9:37am: [LON:GRN] Green Reit Plc share price was +0.06p at 1.9p

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