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Canary Wharf Bought For £2.6bn

21/04/2015

The entirety of Canary Wharf was sold yesterday to Brookfield, a US property developer, and the Qatar Investment Authority (QIA).

Canary Wharf Bought For £2.6bn

Technically, the skyscrapers haven't been sold, but the Canary Wharf Group and parent company Songbird Estates was acquired in a joint venture between Brookfield and the QIA. They acquired 100% of the share capital of Songbird, for 350p per share, which will cease to trade on the markets this week. As with most acquisitions, assets are included in the purchase.

Brookfield Property Group CEO Ric Clark said, “Canary Wharf remains one of the most treasured property estates in the world. With the transaction now concluded, we look forward to working with QIA and the Canary Wharf Group management team to advance the substantial development pipeline and to realize the full potential of the site for our tenants, stakeholders and the people of London.”

 

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By Billy Sexton, Editor, AllAboutFinanceCareers.com