BlackRock completes closed-end fund reorganisations
BlackRock has completed the reorganisations of BlackRock Global Equity Income Trust and BlackRock World Investment Trust into BlackRock Global Opportunities Equity Trust.
In the reorganisations, BlackRock Global Opportunities Equity Trust (BOE) acquired substantially all of the assets and liabilities of BlackRock Global Equity Income Trust (BFD) and BlackRock World Investment Trust (BWC) in a tax-free transaction in exchange for an equal aggregate value of newly-issued common shares of BOE.
BFD and BWC distributed the common shares of BOE to their respective common shareholders in an amount equal to the aggregate net asset value of BFD and BWC common shares, as determined at the close of business on 24 July 2009, less the costs of the applicable reorganisation.
BOE's NAV per share is USD18.33, while BFD's is USD10.10 and BWC's USD10.94.