Deal typeCapital Markets & Transaction Services
IndustryReal Estate
Client nameLondonMetric Property Plc
On 6 March 2024, LondonMetric Property announced that its shareholders had approved the merger of LondonMetric Property and LXi REIT, creating the fourth largest UK REIT with EPRA net tangible assets of £4.1 billion.
The merger provides the combined group with better access to capital and increased share liquidity and creates a combined £6.2 billion portfolio with 93% exposure to the logistics, healthcare, convenience, entertainment and leisure sectors.
BDO acted as reporting accountant in respect of the combined circular and prospectus prepared in respect of the reverse acquisition.
The BDO project team included:
Reporting accountant and financial due diligence: Simon Hall, Ian Cooper, Alistair Kelsey, Alex Karski, Mike Duncan, Konrad Langworth, Sophie Sweetman, Bradley Alis, Nick Gee, Kieran Gosrani, Murray Blair, Josh Cowan, Hannah Ibrahim
Tax due dilgence: Hira Sharma, Lindsay Millar, Kim Cook, Josh Dover, Navin Sharma, Veronika Lipinska, Ajay Kanji
HFI: Chris Young, Kish Das, Niamh Vincent, Kate Hillas, Anthony Malinzi
The merger provides the combined group with better access to capital and increased share liquidity and creates a combined £6.2 billion portfolio with 93% exposure to the logistics, healthcare, convenience, entertainment and leisure sectors.
BDO acted as reporting accountant in respect of the combined circular and prospectus prepared in respect of the reverse acquisition.
"BDO did an excellent job for us on our merger with LXi REIT. There were a number of complexities on this transaction and throughout the process they helped us to navigate these efficiently and proactively. Their experience of the listed REIT market was really valuable, enabling them to get up to speed quickly on both groups and produce clear and concise reports. I would highly recommend them for any similar transactions."
Ritesh Patel, Corporate Finance Manager, LondonMetric Property Plc
The BDO project team included:
Reporting accountant and financial due diligence: Simon Hall, Ian Cooper, Alistair Kelsey, Alex Karski, Mike Duncan, Konrad Langworth, Sophie Sweetman, Bradley Alis, Nick Gee, Kieran Gosrani, Murray Blair, Josh Cowan, Hannah Ibrahim
Tax due dilgence: Hira Sharma, Lindsay Millar, Kim Cook, Josh Dover, Navin Sharma, Veronika Lipinska, Ajay Kanji
HFI: Chris Young, Kish Das, Niamh Vincent, Kate Hillas, Anthony Malinzi