Macquarie Global Infrastructure Total Return Fund Inc. announces completion of reorganization into abrdn Global Infrastructure Income Fund

Rhea-AI Summary

The Macquarie Global Infrastructure Total Return Fund Inc. (MGU) has completed its asset acquisition by abrdn Global Infrastructure Income Fund (ASGI) on March 10, 2023. This move followed the approval of the Agreement and Plan of Acquisition during a Special Meeting of Shareholders on November 9, 2022. Post-reorganization, MGU’s net asset value per share stood at $27.1077, while ASGI's was $20.3964. The reorganization was tax-free, and shareholders will receive a Form 1099-DIV for 2023 tax reporting. Following the acquisition, MGU will be delisted from the New York Stock Exchange and dissolved.

Positive

• The acquisition was structured as a tax-free transaction, providing potential tax benefits to shareholders.
• Shareholders received a form to report distributions for tax purposes, aiding in compliance.

Negative

• MGU will be delisted from the New York Stock Exchange and dissolved, eliminating trading opportunities.
• Shareholders may face uncertainty regarding the future management and performance of their investments post-reorganization.

NEW YORK--(BUSINESS WIRE)-- Today, Macquarie Global Infrastructure Total Return Fund Inc. (the “Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “MGU,” announced that the acquisition of substantially all of the assets of the Fund by abrdn Global Infrastructure Income Fund (the “Acquiring Fund”), a New York Stock Exchange-listed closed-end fund trading under the symbol “ASGI,” was completed on March 10, 2023 at approximately 5:00 pm ET (the “Reorganization”). Fund shareholders approved an Agreement and Plan of Acquisition that provided for the Reorganization at a Special Meeting of Shareholders held on November 9, 2022.

Relevant details as of the closing of the Reorganization are as follows:

FUND	NAV/SHARE ($)	CONVERSION RATIO
abrdn Global Infrastructure Income Fund	20.3964	N/A
Macquarie Global Infrastructure Total Return Fund Inc.	27.1077	1.329043

Any applicable fractional shares will be paid as cash-in-lieu to the applicable holder.

The Reorganization was structured as a tax-free transaction. In early 2024, shareholders of the Fund will receive a Form 1099-DIV for the calendar year 2023 that will tell shareholders how to report Fund distributions for federal income tax purposes.

The Fund will be de-listed from the New York Stock Exchange and dissolved. Questions regarding the exchange of shares of the Fund in connection with the Reorganization should be directed to 800 522-5465.

Other than Macquarie Bank Limited ABN 46 008 583 542 (“Macquarie Bank”), any Macquarie Group entity noted in this press release is not an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia). The obligations of these other Macquarie Group entities do not represent deposits or other liabilities of Macquarie Bank. Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these other Macquarie Group entities. In addition, if this press release relates to an investment, (a) the investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group entity guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.

© 2023 Macquarie Management Holdings, Inc.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005465/en/

Investor/Broker Inquiries

Tel: 866 567-4771

E-mail: MGU-Questions@macquarie.com

Web: www.macquarieim.com/mgu



Media Inquiries

Lee Lubarsky

347 302-3000

Lee.Lubarsky@macquarie.com

Source: Macquarie Global Infrastructure Total Return Fund Inc.

FAQ

What does the acquisition by abrdn Global Infrastructure Income Fund mean for shareholders of MGU?

The acquisition means that MGU's assets have been transferred to ASGI, and shareholders will no longer hold shares in MGU after its dissolution.

When did the acquisition of MGU by ASGI take place?

The acquisition was completed on March 10, 2023.

What will happen to MGU's shares after the reorganization?

MGU will be delisted from the New York Stock Exchange and will dissolve.

How will shareholders report the acquisition for tax purposes?

Shareholders will receive a Form 1099-DIV for the calendar year 2023 to report distributions for federal income tax.

What is the net asset value per share for MGU and ASGI after the acquisition?

As of the closing of the acquisition, MGU's net asset value was $27.1077 and ASGI's was $20.3964.