QUÉBEC, Jan. 20 /CNW Telbec/ - AM Total Investments (General Partnership) ("AM Total") today announced its intention to sell its 6,628,701 units in BTB Real Estate Investment Trust ("BTB"), which represent approximately 19.7% of BTB's outstanding units before dilution, in compliance with the applicable securities legislation and on the basis of market conditions and other relevant factors.
AM Total was informed that the Cominar Real Estate Investment Trust ("Cominar"), which may be considered as its joint actor for the purposes hereof, deposited with BTB a non-binding expression of interest to acquire all of BTB's units, in the form of a friendly and negotiated transaction between Cominar and BTB, and that Cominar does not wish to pursue an approach other than a friendly and negotiated transaction. The President and Chief Executive Officer of BTB advised Cominar and AM Total that BTB does not intend to act on Cominar's approach. Therefore, AM Total intends to reduce all of its investment in BTB, in accordance with the abovementioned terms and conditions.
Cominar does not hold any unit of BTB in its own name.
For further information or to obtain a copy of the report issued pursuant to National Instrument 62-103: The Early Warning System and Related Take-Over Bid and Insider Reporting Issues filed through SEDAR as of today's date, contact:
Source: Roger Harvey
AM Total Investments (General Partnership)
455 Rue du Marais
Telephone: (418) 656-0449
SOURCE AM TOTAL INVESTMENTS (GENERAL PARTNERSHIP)
For further information: For further information: Roger Harvey, AM Total Investments (General Partnership), (418) 656-0449