 |
| Mike Shustek |
LAS VEGAS, NV (May 30, 2017) – MVP REIT,
Inc. and MVP REIT II, Inc. announced today that they have entered into a
definitive merger agreement, pursuant to which MVP I will merge with and into a
wholly-owned merger subsidiary of MVP II with the merger subsidiary continuing
as the surviving entity.
The merger agreement was negotiated on behalf of MVP I by an
independent special committee of MVP I’s board of directors and on behalf of
MVP II by an independent special committee of MVP II’s board of directors.
Each
of the special committees recommended approval of the merger agreement to their
respective boards of directors, each of which subsequently approved entry into
the merger agreement.
“The MVP REITs are unique in that they invest solely in parking
structures and facilities around the country, a compelling asset class that we
believe provides us and our stockholders with tremendous upside opportunities,”
said Mike Shustek, chairman and
chief executive officer of MVP I, and president, chief executive officer and
chairman of the board of MVP II.
“We believe that the merger of MVP REIT and MVP REIT II will create a
company greater than the sum of its parts, and create greater opportunities for
us to unlock greater value for our stockholders.”
For a complete copy of the company’s news release,
please contact:
Julie
Leber
Spotlight
Marketing Communications
949.427.5172,
ext. 703
No comments:
Post a Comment