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CSSC acquires Primaris Retail Real Estate Investment Trust units

Thu, 13/12/2012 - 12:33

Credit Suisse Securities (Canada) (CSSC) has acquired 681,600 units of Primaris Retail Real Estate Investment Trust, which represents approximately 0.72 per cent of the issued and outstanding units of Primaris. 

Immediately following the acquisition, CSSC held 5,400,834 units of Primaris, which represents approximately 5.68 per cent of the issued and outstanding units of Primaris.

CSSC has acquired beneficial ownership of 681,600 units of Primaris since KS Acquisition II, a limited partnership equally owned beneficially by a KingSett Capital-managed fund and by Ontario Pension Board, formally launched its offer to purchase all of the outstanding units of Primaris on 10 December, 2012.

CSSC acquired the units through the Toronto Stock Exchange to offset risk as part of a broader client transaction and not with the purpose of influencing the control or direction of Primaris. CSSC may in the future, subject to market conditions, make additional investments in or dispositions of Primaris' securities for purposes of managing risk.
 


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