Hotel Property Investments (ASX:HPI) Announces Compulsory Acquisition
Takeover Offer
Charter Hall Wholesale Management Limited has made an off-market takeover offer to acquire all stapled securities in Hotel Property Investments (ASX:HPI). The Bidder, acting as trustee for the CH Investment Trust and the CH Investment Co Trust, has secured over 90% of HPI’s stapled securities based on offer acceptances.
Compulsory Acquisition
The Bidder will compulsorily acquire the remaining HPI securities at the offer price of $3.752 per security. Securityholders must accept the offer by 7:00pm Sydney time on 14 March 2025 to receive payment within five business days. Unsold securities will be acquired under the Corporations Act 2001.
Timeline and Impact
The Compulsory Acquisition Notice was lodged with ASIC on 18 February 2025 and will be dispatched to non-accepting securityholders on 19 February 2025. Trading in HPI securities on ASX is expected to suspend five business days after the notice date, leading to the removal of HPI from the official list.
Motley Fool contributor Kiarra Jackson has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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