QUÉBEC, Jan. 20 /CNW Telbec/ - Cominar Real Estate Investment Trust ("Cominar") today announced that AM Total Investments (General Partnership) ("AM Total"), which may be considered as its joint actor for the purposes hereof, announced on January 20, 2010 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.
Cominar 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 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, on January 20, 2010, AM Total announced that it 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:
Michel Dallaire, P. Eng.
President and Chief Executive Officer, Cominar Real Estate Investment
SOURCE Cominar Real Estate Investment Trust
For further information: For further information: Michel Dallaire, P. Eng., President and Chief Executive Officer, Cominar Real Estate Investment Trust, (418) 681-8151