5 Apr 2013

Partial takeover of Vital Healthcare to be assessed

10:27 am on 5 April 2013

The independent directors of Vital Healthcare Property Trust have appointed KordaMentha to assess a partial takeover offer from its largest unitholder.

Canadian property investor Northwest Value Partners intends to buy the 5% stake of a related entity, Northwest International.

Northwest Value Partners owns just under 20% of Vital and also manages the trust's portfolio.

Under a Restricted Transfer Notice, Northwest is offering to pay between $1.15 and $1.38 a unit over the next year.