Aberdeen Group PLC (LSE:ABDN) plans to acquire full ownership of Tritax Management, manager of Tritax Big Box REIT PLC (LSE:BBOX) and Tritax Eurobox PLC (LSE:EBOX), over the next four years, starting by lifting its stake from its current 60% to 80% next April.
The fund management group has owned a stake since 2020 and had an option to increase the position.
The management agreement with Tritax Big Box is not affected, with no impact on the logistical warehouse REIT's strategy, investment decisions, or day-to-day operations.
Anne Breen, global head of real estate at Aberdeen Investments, said: "Tritax has been an excellent addition to Aberdeen’s extensive real estate capabilities, so I am delighted this agreement will see us continuing to work closely with the team.
"Our additional investment enhances Aberdeen’s scale as a specialist real estate manager, offering the potential to diversify and grow future earnings through direct access to the dynamic, fast growing supply chain sector.”
Henry Franklin, chief operating officer at Tritax, said Aberdeen’s commitment enables the business "to continue to capitalise on the compelling structural drivers in our sector with the long-term support of a leading global asset manager, whilst maintaining Tritax’s agile, entrepreneurial approach".