Canada’s Slate Office has completed its acquisition of Irish developer Yew Grove.
Trading of Yew Grove’s shares have been suspended in both Dublin and on Aim as the £107m deal is processed.
The offer values Yew Grove, which is listed in London and Dublin, at €127.8m excluding debt. It is priced at a premium of 1.4% to Yew Grove’s EPRA net tangible assets per share as of June.
In December, the prospect of a raised bid for Yew Grove disappeared after rival suitor Quanta, an Irish investment firm, abandoned a competing offer.
Slate has previously said the deal would be a springboard to further acquisitions in Europe.
Chief executive, Steve Hodgson, said: “With this initial acquisition in Ireland, we would be well positioned to pursue other attractive growth opportunities across Europe.”
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