Edition:
India

Prologis To Acquire IPT's Wholly Owned Real Estate Assets For About $3.99 Bln


Tuesday, 16 Jul 2019 

July 15 (Reuters) - Prologis Inc ::PROLOGIS REPORTS SECOND QUARTER 2019 EARNINGS RESULTS AND ANNOUNCES THE SIGNING OF A DEFINITIVE AGREEMENT TO ACQUIRE IPT.Q2 EARNINGS PER SHARE $0.60.Q2 EARNINGS PER SHARE $0.60.SAYS PROLOGIS WILL ACQUIRE IPT'S WHOLLY OWNED REAL ESTATE ASSETS FOR APPROXIMATELY $3.99 BILLION IN A CASH TRANSACTION.TRANSACTION IS EXPECTED TO BE ACCRETIVE TO ANNUAL CORE FFO BY APPROXIMATELY $0.05-0.061 PER SHARE, ON A STABILIZED BASIS.SEES 2019 NET EARNINGS PER DILUTED SHARE OF $2.38 TO $2.46.SAYS SEES 2019 CORE FFO $3.26 TO $3.30.SAYS TRANSACTION IS NOT EXPECTED TO HAVE A MEANINGFUL IMPACT ON COMPANY'S LEVERAGE.Q2 EARNINGS PER SHARE ESTIMATE $0.36 -- REFINITIV IBES DATA. 

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