Tritax buys £370m db symmetry to create 68m sq ft big box portfolio

db symmetry Darlington Link66

Tritax Big Box REIT has conditionally agreed to acquire an 87% controlling stake in fellow logistics giant db Symmetry.

The deal values the company at £370m.

The acquisition will be paid for through £202.4m in cash and £52.6m in consideration shares. Owner DBS HoldCo will also procure the repayment of £67.7m of deep discounted bonds owed by db Symmetry to DV4 Properties which have been used to fund land acquisitions, construction, developments and associated costs.

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