GCP Infrastructure Investments, a FTSE 250 closed-ended investment company, has announced a merger with GCP Asset Backed Income Fund. This deal will involve the winding up of GCP Asset and the transfer of its assets to GCP Infrastructure in exchange for shares. The resulting company is expected to be valued at approximately £907 million ($1.15 billion).
Additionally, GCP Infrastructure is engaged in discussions with RM Infrastructure Income regarding a potential merger between the enlarged GCP group and RM. Further details of this deal will be announced at a later stage.
The number of shares to be issued to GCP Asset shareholders will be determined by a formula based on each company's net asset value on a specified date. The transaction is anticipated to be finalized by the end of this year.
RM has confirmed that it has received a proposal from GCP Infrastructure and is also considering another proposal from a separate party. However, there is no guarantee that either proposal will result in a deal.
RM commented, "The company continues to assess both proposals and will update RMII shareholders as appropriate."
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