SINGAPORE (Oct 31): Cromwell European REIT (CEREIT) is acquiring 23 properties across five countries in Europe for about EUR 384.4 million ($605 million).

The manager plans to partially fund the acquisitions via a EUR 224.1 million underwritten and renounceable rights issue.

It will issue 600.8 million new units on the basis of 38 rights units for every 100 units in CEREIT at an issue price of EUR 0.373 per rights unit.

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