Investors to Buy Livingston International

Canadian customs brokerage firm Livingston International Income Fund said that it has agreed to an acquisition offer from CPP Investment Board and Sterling Partners.

The acquisition offers C$8 per unit, a 29% premium over the income fund’s last price on the Toronto Stock Exchange, Livingston said.

“This transaction delivers significant value and liquidity to our unitholders,” said Peter Valentine, chairman of Livingston's board of trustees.

The acquisition is subject to approval from two third of Livingston’s unitholders at a meeting in November. Pending that approval and regulatory approval, Livingston expects the acquisition to finish in December.

Livingston is ranked No. 48 on the Transport Topics Logistics 50 listing of North American logistics companies.