South African tycoon Nathan Kirsh has joined forces with New York-listed Public Storage in a takeover offer for Abacus Storage King that values the ASX-listed self-storage operator at around $1.93 billion.

Through his family office Ki Corporation, Kirsh already controls 59.47 per cent of the register of Abacus Storage King – known by its ticker as ASK. That stake is both directly and indirectly, through Kirsh’s substantial interest in Abacus Group, which manages ASK and retains a shareholding in it.