Simpson Thacher is representing affiliates of Blackstone in connection with their recommended offer to acquire the entire issued and to be issued share capital of Industrials REIT Limited (“Industrials”) at 168 pence per share. The offer values Industrials’ share capital at £512 million on a fully diluted basis. The transaction is expected to be implemented by way of scheme of arrangement, subject to the approval of Industrials shareholders and satisfaction of relevant conditions.~~Industrials is a UK REIT investing in multi-let industrial properties with the strategic goal of becoming the leading MLI business in the UK. Established in 2012 and headquartered in London, Industrials has a primary listing on the Premium Segment of the Main Market of the London Stock Exchange and a secondary listing on the Johannesburg Stock Exchange.~~The Simpson Thacher team includes Ben Spiers, James Campisi, Jewel Zhu and Fran Towers (Corporate); Wheatly MacNamara, Tom Lloyd, Kimberley Chikitch, Claire Newman, Barbora Cechova and Samer Ashur (Real Estate); and Étienne Renaudeau, Josh Buckland, Sandeep Mahandru and Lina Kim (Antitrust).