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Slide #50. W. P. Carey Inc. — Corporate Property Associates 16 Global Incorporated
W. P. Carey Inc. (NYSE:WPC)
Corporate Property Associates 16 Global Incorporated
W. P. Carey Inc. (NYSE:WPC) announced today that its Board of Directors and the independent directors of the Board of Directors of its publicly-held, non-traded real estate investment trust (REIT) affiliate, Corporate Property Associates 16 Global Incorporated ("CPA:16 Global"), have unanimously approved a definitive merger agreement pursuant to which CPA:16 Global will merge with W. P. Carey in a transaction valued at approximately $4.0 billion. The merger is subject to approval by stockholders of both W. P. Carey and CPA:16 Global.
W. P. Carey is an internally-managed diversified real estate investment trust (REIT). Co.'s business segments are: Real Estate, in which Co. invests in commercial real estate properties, that are leased to companies on a triple-net lease basis; and Investment Management, in which Co. manages the portfolios of certain non-traded investment programs, non-traded REITs that have invested in lodging and lodging-related properties, and a private limited partnership formed for the purpose of developing, owning, and operating student housing properties and similar investments in Europe.
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