** Citi says diversified real estate investment trust Abacus Group ABG.AX, which holds 19.77% interest in Abacus Storage King ASK.AX, would benefit if the proposed takeover of ASK goes through
** The proposed disposal is anticipated to create A$382 million ($227.29 million) in additional proceeds to ABG, which can be used to pay down existing debt and/or invest in additional assets, says Citi
** On Monday, ASK said it received an unsolicited takeover offer from a consortium consisting of Ki Corp and Public Storage PSA.N, valuing the self-storage facilities provider at A$1.93 billion
** Three of five analysts rate the stock "buy" or higher and two "hold"; their median PT is A$1.27 – LSEG data
** Stock up 0.9% YTD
($1 = 1.6807 Australian dollars)
(Reporting by Sherin Sunny in Bengaluru)
((Sherin.Sunny@thomsonreuters.com;))
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