TORONTO, Feb. 7, 2014 /CNW/ - Beutel, Goodman & Company Ltd. ("Beutel Goodman"), an investment management firm located in Toronto, on behalf of its clients exercises direction and control over 10,699,500 trust units of InnVest Real Estate Investment Trust ("InnVest REIT"), representing approximately 11.40% of the issued and outstanding trust units of InnVest REIT ("Units"), based on 93,809,805 Units issued and outstanding as of November 6, 2013, as stated by InnVest REIT in its management discussion and analysis for the third financial quarter ended September 30, 2013.
Beutel Goodman understands that Orange Capital LLC ("Orange"), an investment firm and significant unitholder of InnVest REIT, is evaluating various means to enhance unitholder value at InnVest REIT and has invited the board of trustees of InnVest REIT to participate in discussions to consider ways to enhance unitholder value.
Beutel Goodman generally supports plans for changes at InnVest REIT that would increase value for unitholders of InnVest REIT. Beutel Goodman will await the final outcome of discussions between Orange and InnVest REIT. If a final plan for any changes is submitted to unitholders of InnVest REIT for approval, Beutel Goodman will review such plan in light of its fiduciary duty to act in the best interests of its clients and will vote accordingly. On that basis and assuming that no intervening changes occur, Beutel Goodman would be supportive of the plan for change as currently proposed by Orange.
About Beutel, Goodman & Company Ltd.
Beutel Goodman is a privately-owned Canadian investment management organization, founded in 1967. Beutel Goodman specializes in the management of Canadian, U.S. and International equities in addition to balanced and fixed income mandates for institutional and individual investors. The company manages a total asset base of $38.7 billion as at December 31, 2013.
SOURCE: Beutel, Goodman & Company Ltd.
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Contact: Peter Clarke, Managing Director, Client Service