Attached files
file | filename |
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8-K - FORM 8-K - RiverSource LaSalle International Real Estate Fund, Inc. | c59706e8vk.htm |
Exhibit 99.1
Media contact:
|
Charles Keller | |
612-678-7786 | ||
charles.r.keller@ampf.com | ||
Stockholder contact:
|
Gary Terpening | |
212-850-1533 | ||
gary.a.terpening@ampf.com |
BOARD APPROVAL OF ACQUISITION OF
RIVERSOURCE LASALLE INTERNATIONAL REAL ESTATE FUND, INC.
BY AN OPEN-END FUND
RIVERSOURCE LASALLE INTERNATIONAL REAL ESTATE FUND, INC.
BY AN OPEN-END FUND
BOSTON, MA, August 11, 2010 RiverSource LaSalle International Real Estate Fund, Inc. (the
LaSalle Closed-End Fund) (NYSE: SLS) announced today that its Board of Directors approved, in
principle, the acquisition of the LaSalle Closed-End Fund by an open-end fund, Columbia Real Estate
Equity Fund (the Open-End Fund), a series of Columbia Funds Series Trust I (the Acquisition).
Each of the LaSalle Closed-End Fund and the Open-End Fund are managed by Columbia Management
Investment Advisers, LLC. The Acquisition was also
approved by the Open-End Funds board of trustees.
As consideration for their shares, holders of the LaSalle Closed-End Funds common stock would
receive shares of the Open-End Fund with a value equal to the net asset value of their
shares of the LaSalle Closed-End Fund common stock on the closing
date of the Acquisition. Redemptions and exchanges of shares of the
Open-End Fund issued pursuant to the Acquisition would be subject to a redemption fee of 2% for a
period of one year following the closing date of the Acquisition.
The Acquisition would be subject to the approval of the stockholders of the LaSalle Closed-End Fund at a
special meeting of stockholders of the LaSalle Closed-End Fund, details of which will be made available
in a subsequent announcement and included in the prospectus/proxy statement that will be mailed to
stockholders of the LaSalle Closed-End Fund.
Important Disclosures:
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of a fund, nor
is it a solicitation of any proxy. For information regarding the Open-end Fund, or to receive a
free copy of a prospectus/proxy statement relating to the proposed Acquisition once a registration
statement relating to the proposed Acquisition has been filed with the Securities and Exchange
Commission (SEC) and becomes effective, please call the telephone number of the proxy solicitor
or visit its website, details of which may be obtained, when available, by contacting
columbiamanagement.com. The
prospectus/proxy statement (when available) will contain important information about fund
objectives, strategies, fees, expenses and risk considerations. The prospectus/proxy statement will
also be available for free on the SECs website (www.sec.gov). Please read the prospectus/proxy
statement carefully before making any decision to invest or to approve the Acquisition.
Columbia Management Investment Advisers, LLC is a wholly owned subsidiary of Ameriprise Financial,
Inc. Columbia Management Investment Distributors, Inc. (formerly known as RiverSource Fund
Distributors, Inc.) is the principal underwriter of the Columbia, Wanger, Columbia Acorn,
RiverSource, Seligman and Threadneedle branded mutual funds.