TORONTO — InnVest Real Estate Investment Trust and Bluesky Hotels and Resorts Inc. have completed the previously announced plan of arrangement under the Business Corporations Act (Alberta), pursuant to which Bluesky has acquired all of the issued and outstanding units of InnVest for $7.25 in cash per unit for an aggregate of approximately $974,504,697.

In addition, in connection with the closing of the arrangement, InnVest has completed the redemption for cash of (i) all six per cent Series E convertible debentures and 5.75 per cent Series F convertible debentures at a price of $1,010 per $1,000 of debentures (plus accrued and unpaid interest), and (ii) all 6.25 per cent Series G convertible debentures at a price of $1,075 per $1,000 of debentures (plus accrued and unpaid interest).

As previously announced, with the completion of the arrangement, InnVest’s units and convertible debentures were delisted from the Toronto Stock Exchange following the close of business Aug. 18, 2016.

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