KingSett Capital is pressing ahead with plans to acquire, directly or indirectly, units of Canadian shopping mall owner and operator Primaris Retail Real Estate Investment Trust. The Toronto, Ontario-based KingSett, a private equity firm focused on opportunities in the real estate sector, leads an investor group that includes the C$17 billion Ontario Pension Board. The previously-announced offer has been estimated to value C$4.4 billion.
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KinSett Capital’s KS Acquisition II LP has filed a notice of extension with the depositary of the offer previously announced on December 5, 2012 to purchase all of the trust units of Primaris Retail Real Estate Investment Trust. The offer is now open for acceptance by Primaris unitholders until 5.00 p.m. (Toronto time) on February 4, 2013, unless withdrawn by the offeror.