Brookfield Property Partners and the Qatar Investment Authority have today completed the takeover of Canary Wharf Group.
The joint venture partners acquired the company via their £2.6bn takeover of parent Songbird Estates.
Songbird’s shares will cease to trade on 23 April, four months after the joint venture’s revised 350p per share offer was tabled.
Ric Clark, chief executive of Brookfield Property Group, 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.”
Sheikh Abdulla bin Mohammed Al Thani, chief executive of QIA, added: “We look forward to realising our partnership with Brookfield as long-term investors, to support the management’s strategy of pursuing further expansion through the creation of a sustainable, mixed development comprising offices, homes as well as retail and leisure space.”
