The Unite Group acquisition of Liberty Living Group

Overview:

• The Unite Group has acquired the Liberty Living Group from Canada Pension Plan Investment Board (CPPIB) for £1.4 billion.
• Liberty Living is a student accommodation provider with 24,021 beds.
• Unite has a portfolio of 48,815 beds across 122 properties.
• The transaction is priced on a NAV-for-NAV basis, with the acquisition price made up of cash and shares. Following the deal CPPIB will hold around 20% of shares in the enlarged group. Unite has undertaken a placing to fund part of the cash consideration.
• The acquisition is subject to a shareholder vote, and competition clearance.

Sam Duke