Public Storage, Ki Offer to Acquire Remaining Stake in Abacus Storage King

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Public Storage, Ki Offer to Acquire Remaining Stake in Abacus Storage King

, MT Newswires - 3:59 AM ET 4/7/2025 default

03:59 AM EDT, 04/07/2025 (MT Newswires) -- Public Storage ( PSA ) and Ki Corporation have submitted a non-binding offer to acquire the remaining interest in Australian self-storage business Abacus Storage King for 1.47 Australian dollars ($0.88) per stapled security, the companies said over the weekend.

Abacus owns 126 operating properties, 21 development sites, and 75 managed/licensed properties across Australia and New Zealand.

Ki Group is a major securityholder of Abacus. Upon consummation of a deal, Public Storage ( PSA ) and Ki will each have a 50% stake in the business.

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