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abrdn Global Infrastructure Income Fund (ASGI) Announces Update and Tentative Closing Date for Acquisition of Assets From First Trust/abrdn Global Opportunity Income Fund

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abrdn Global Infrastructure Income Fund (NYSE:ASGI) has announced an update on its acquisition of assets from Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). The reorganization, approved by MFD shareholders, is set to close on September 20, 2024. Key points include:

  • MFD shares will cease trading on NYSE at market close on September 20, 2024
  • MFD shareholders will receive newly issued ASGI shares
  • The combined net assets of ASGI post-reorganization will be approximately $596 million
  • The merger aims to achieve economies of scale, increase liquidity, and enhance marketability

This strategic move is expected to benefit shareholders of both funds by creating a larger, more viable combined fund with improved scale and efficiency.

Il Fondo di Reddito per Infrastrutture Globali abrdn (NYSE:ASGI) ha annunciato un aggiornamento riguardante l'acquisizione di attivi da Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). La riorganizzazione, approvata dagli azionisti di MFD, è prevista per la chiusura il 20 settembre 2024. I punti chiave includono:

  • Le azioni di MFD smetteranno di essere negoziate sul NYSE alla chiusura del mercato il 20 settembre 2024
  • Gli azionisti di MFD riceveranno nuove azioni emesse da ASGI
  • Il patrimonio netto combinato di ASGI dopo la riorganizzazione sarà di circa $596 milioni
  • La fusione mira a raggiungere economie di scala, aumentare la liquidità e migliorare la commerciabilità

Questa mossa strategica si prevede porterà benefici agli azionisti di entrambi i fondi creando un fondo combinato più grande e più sostenibile con una scala e un'efficienza migliorate.

El Fondo de Ingresos por Infraestructura Global abrdn (NYSE:ASGI) ha anunciado una actualización sobre su adquisición de activos de Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). La reorganización, aprobada por los accionistas de MFD, se cerrará el 20 de septiembre de 2024. Los puntos clave incluyen:

  • Las acciones de MFD dejarán de cotizar en NYSE al cierre del mercado el 20 de septiembre de 2024
  • Los accionistas de MFD recibirán nuevas acciones emitidas de ASGI
  • Los activos netos combinados de ASGI después de la reorganización serán aproximadamente $596 millones
  • La fusión busca lograr economías de escala, aumentar la liquidez y mejorar la comerciabilidad

Este movimiento estratégico se espera que beneficie a los accionistas de ambos fondos creando un fondo combinado más grande y viable con una mejor escala y eficiencia.

abrdn 글로벌 인프라 수익 기금 (NYSE:ASGI)이 Macquarie/First Trust 글로벌 인프라/유틸리티 배당금 및 소득 기금 (NYSE:MFD)에서 자산 인수에 대한 업데이트를 발표했습니다. MFD 주주들이 승인한 재조직은 2024년 9월 20일에 종료될 예정입니다. 주요 사항은 다음과 같습니다:

  • MFD 주식은 2024년 9월 20일 시장 종료 시 NYSE에서 거래가 중단됩니다
  • MFD 주주들은 새로 발행된 ASGI 주식을 받게 됩니다
  • 재조직 이후 ASGI의 결합된 순자산은 약 $596 million이 될 것입니다
  • 이번 합병은 규모의 경제를 달성하고 유동성을 증가시키며 시장성을 향상시키기 위한 것입니다

이 전략적 이동은 보다 큰 규모와 효율성을 갖춘 통합 기금을 창출하여 두 기금의 주주들에게 혜택을 줄 것으로 예상됩니다.

Le Fonds de Revenus d'Infrastructure Mondiale abrdn (NYSE:ASGI) a annoncé une mise à jour concernant son acquisition d'actifs de Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD). La réorganisation, approuvée par les actionnaires de MFD, devrait se clôturer le 20 septembre 2024. Les points clés comprennent :

  • Les actions de MFD cesseront d'être négociées à la NYSE à la clôture des marchés le 20 septembre 2024
  • Les actionnaires de MFD recevront de nouvelles actions émises par ASGI
  • Après la réorganisation, les actifs nets combinés d'ASGI seront d'environ $596 millions
  • La fusion vise à réaliser des économies d'échelle, à accroître la liquidité et à améliorer la commercialisation

Ce mouvement stratégique devrait bénéficier aux actionnaires des deux fonds en créant un fonds combiné plus grand et plus rentable avec une échelle et une efficacité améliorées.

Der abrdn Global Infrastructure Income Fund (NYSE:ASGI) hat ein Update zu seiner Übernahme von Vermögenswerten des Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD) angekündigt. Die von den MFD-Aktionären genehmigte Reorganisation wird am 20. September 2024 abgeschlossen sein. Wichtige Punkte sind:

  • MFD-Aktien werden am 20. September 2024 nach Marktende nicht mehr an der NYSE gehandelt
  • MFD-Aktionäre erhalten neu ausgegebene ASGI-Aktien
  • Die kombinierten Nettovermögen von ASGI nach der Reorganisation werden etwa $596 Millionen betragen
  • Die Fusion zielt darauf ab, Skaleneffekte zu erzielen, die Liquidität zu erhöhen und die Vermarktbarkeit zu verbessern

Diese strategische Maßnahme wird voraussichtlich den Aktionären beider Fonds zugutekommen, indem ein größeres, tragfähigeres kombiniertes Fonds mit verbesserter Größe und Effizienz geschaffen wird.

Positive
  • Increased fund size to approximately $596 million in combined net assets
  • Potential for economies of scale and reduced operating expenses
  • Enhanced liquidity and marketability of the combined fund
  • Improved viability of the resulting fund due to increased scale
Negative
  • None.

PHILADELPHIA, PA / ACCESSWIRE / August 22, 2024 / The Board of Trustees of abrdn Global Infrastructure Income Fund (NYSE:ASGI), announces today that shareholders of Macquarie/First Trust Global Infrastructure/Utilities Dividend & Income Fund (NYSE:MFD) ("MFD" or the "Acquired Fund"), advised by First Trust Advisors L.P., have approved the proposed reorganization into ASGI ("Reorganization") which is expected to close at the close of business on September 20, 2024, or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions.

To facilitate the Reorganization, all shares of MFD are expected to cease trading on the New York Stock Exchange as of the market close on September 20, 2024, and MFD shareholders will be issued newly issued shares of ASGI. The Reorganization will occur based on the relative net asset values of the common shares of MFD. As of August 21, 2024, the combined net assets of ASGI following the Reorganization will be approximately $596 million.

The Reorganization is expected to benefit each fund's shareholders in a number of important ways, providing greater opportunities to realize economies of scale by combining the funds' assets resulting in a larger fund. Additionally, the Reorganization is expected to help ensure the viability of the resulting combined fund by increasing scale, liquidity and marketability of the fund.

Important Information
In the United States, abrdn is the marketing name for the following affiliated, registered investment advisers: abrdn Inc., abrdn Investments Limited, and abrdn Asia Limited.

The information in this press release is for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities or the solicitation of any vote or approval in any jurisdiction pursuant to or in connection with the proposed transaction or otherwise, nor shall there be any sale, issuance or transfer of securities in any jurisdiction in contravention of applicable law. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Closed-end funds are traded on the secondary market through one of the stock exchanges. Each Acquiring Fund's investment return and principal value will fluctuate so that an investor's shares may be worth more or less than the original cost. Shares of closed-end funds may trade above (a premium) or below (a discount) the net asset value (NAV) of the fund's portfolio. There is no assurance that each Acquiring Fund will achieve its investment objective. Past performance does not guarantee future results.

If you wish to receive this information electronically, please contact Investor.Relations@abrdn.com

abrdnasgi.com



For More Information Contact:
abrdn U.S. Closed-End Funds
Investor Relations
1-800-522-5465
Investor.Relations@abrdn.com

SOURCE: abrdn Global Infrastructure Income Fund



View the original press release on accesswire.com

FAQ

When will the reorganization of ASGI and MFD be completed?

The reorganization is expected to close at the close of business on September 20, 2024, or as soon as practicable thereafter, subject to the satisfaction of customary closing conditions.

What will happen to MFD shares after the reorganization with ASGI?

MFD shares are expected to cease trading on the New York Stock Exchange as of the market close on September 20, 2024. MFD shareholders will be issued newly issued shares of ASGI based on the relative net asset values of the common shares.

What is the expected size of ASGI after the reorganization?

As of August 21, 2024, the combined net assets of ASGI following the reorganization will be approximately $596 million.

What are the main benefits of the ASGI and MFD reorganization?

The reorganization is expected to provide greater opportunities to realize economies of scale, increase liquidity and marketability, and help ensure the viability of the resulting combined fund by increasing its scale.

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