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Public Storage Considers Sale of Shurgard Europe

Public Storage, the nations largest self-storage operator, has reached a preliminary agreement to sell a 51 percent stake in its Shurgard Europe division in a private transaction.

Public Storage, the nations largest self-storage operator, has reached a preliminary agreement to sell a 51 percent stake in its Shurgard Europe division in a private transaction. The company did not disclose the buyer or sale price, though it did say the price is consistent with the previously disclosed proceeds it expected to receive from a canceled European share offering last year. Public Storage also indicated the sale is not certain, as there is no binding agreement with the buyer. If an agreement is reached, the company expects to complete the deal by the end of the first quarter. For more information, visit www.publicstorage.com.

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