Hotel Property Investments (ASX:HPI) takeover offer details

Hotel Property Investments Limited (HPI) (ASX:HPI) has received a second replacement bidder's statement from Charter Hall Wholesale Management Limited, outlining an off-market takeover offer to acquire all stapled securities in HPI. The offer, which opened on 25 September 2024, provides $3.65 cash per HPI stapled security and is set to close on 4 November 2024, unless extended.

Charter Hall Wholesale Management Limited's intentions and funding sources

The bidder's statement from Charter Hall Wholesale Management Limited emphasizes its commitment to the offer and its intentions in relation to HPI. It provides an overview of its corporate structure, ownership, and acquisition arrangements. Additionally, the announcement outlines the funding sources for the acquisition, including Charter Hall Group and Hostplus, along with the debt financing arrangements.

Taxation considerations and acceptance process

Hotel Property Investments Limited (HPI) has provided a general guide to the principal Australian income tax, GST, and stamp duty consequences applicable to HPI Securityholders who accept the Offer. The announcement advises HPI Securityholders to consult their tax advisor regarding the tax consequences of the Offer in light of current tax laws and their particular circumstances. Furthermore, the Bidder's Statement outlines the terms and conditions of the Offer, including the acceptance process, payment of consideration, and withdrawal of the Offer. It also includes instructions for completing the Acceptance Form and provides contact information for inquiries related to the Offer.