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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

Dream Global Real Estate Investment Trust announces agreement to be acquired by real estate funds managed by Blackstone in a $6.2 billion transaction

2019

Areas Mergers and Acquisitions, REITs and Income Securities

Summary

Goodmans LLP is representing the Special Committee of Dream Global, in connection with Dream Global’s master acquisition agreement with affiliates of real estate funds managed be Blackstone, pursuant to which Blackstone will acquire all of Dream Global’s subsidiaries and assets in an all-cash transaction valued at CAD$6.2 billion.

Dream Global unitholders to receive cash consideration of $16.79 per unit which represents a significant premium of 18.5% to the closing price of Dream Global units on the TSX on September 13, 2019, the last trading day prior to announcement of the transaction, and will represent a 9.1% premium to Dream Global’s June 30, 2019 EPRA NAV and a total return for 2019 of 47%.

The Special Committee negotiated a separation payment with Dream Asset Management (“DAM”) in respect of the REIT’s obligations to DAM pursuant to the asset management agreement (AMA). As part of the Transaction, Dream Asset Management will receive an aggregate of $395.2 million with respect to the REIT's obligations under the AMA. One of the considerations in arriving at the negotiated separation payment was the incentive fee, which has a calculated value of $379 million under the AMA.