Madison International Realty has agreed to sell its 2.5% stake in Songbird, which controls Canary Wharf, to Qatar Investment Authority and Brookfield Property Partners, the second company to accept the consortium’s offer after Third Avenue Management agreed to sell its 3.5% stake last week.
QIA and Brookfield now have acceptances in respect of 28% of Songbird’s free floating shares, however only 21.1% of the company is publicly traded.
Songbird has not so far produced a recommendation on the consortium’s offer, as it has not yet received a full offer document.
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The Independent, p. 52
