Arena has announced the successful completion of the TGP acquisition in Dubai, following the company's recent capital raise (Aug-18). In completing the deal, the terms were renegotiated to include the acquisition of TGP's office and warehouse property, as opposed to a sale-and-leaseback originally. The additional consideration for the property is £3.4m which will be paid in three equal amounts ending Jan-20. We upgrade our FY19E adjusted EBITDA by 2% due to the rental savings achieved. The growt ....
