Qatar Investment Authority/Brookfield £2.6 billion acquisition of Songbird Estates

Overview:

• Qatar Investment Authority and Brookfield Property Partners have acquired Songbird Estates - the owner of Canary Wharf - for £2.6 billion.
• The deal values Songbird at 350p per share.
• The deal also sees QIA and Brookfield make a takeover bid for the remaining shares of Songbird subsidiary Canary Wharf Group.
• The original bid for Songbird had been turned down but as a better offer failed to materialise from Songbird's existing shareholders the bid was accepted in February 2015.

Sam Duke - Editor