Jun
01
Parking Asset REITs Plan to Merge
ByLas Vegas-based MVP REIT Inc. and MVP REIT II Inc. will merge into a wholly owned subsidiary of MVP II. The transaction remains subject to various approvals and conditions.
MVP REIT Inc. and MVP REIT II Inc., of Las Vegas, have agreed to merge, with MVP I merging with and into a wholly owned merger subsidiary of MVP II. The merger subsidiary will continue as the surviving entity, the companies announced Tuesday.
The merger agreement was negotiated and recommended for approval by independent special committees of each REIT’s board of directors, both committees comprising only independent directors. The transaction remains subject to various approvals and other conditions, including the approval of MVP I’s stockholders, and also is subject to a 45-day go-shop period…
