CommonWealth REIT Sells Its Interest In Select Income REIT

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CommonWealth REIT
CWH
announced today that it has sold its 22 million shares of Select Income REIT (SIR) for $31.51 per share, to Government Properties Income Trust ("GOV") and Reit Management & Research LLC ("RMR"). Total consideration for the transaction, including accrued dividends, is approximately $705 million. The shares sold represent the Company's entire position in a non-strategic, non-controlling interest in SIR. The Company will evaluate options for the use of proceeds from the sale, including potential debt repayments and other corporate purposes. The transaction was made pursuant to a Stock Purchase Agreement approved by the Company's Board of Trustees. The Agreement will be filed with the Securities and Exchange Commission.
Posted In: NewsM&APress Releases
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