Construction News

06/11/2014

Qatar And Brookfield Launch Bid To Purchase Canary Wharf

Qatar Investment Authority and Brookfield Property Partners have approached Songbird, owner of Canary Wharf, in relation to a takeover.

In a statement, Songbird said: "The board of Songbird will consider this approach in light of what is in the best interests of the shareholders in the Company as a whole and in the meantime Songbird shareholders are advised to take no action.

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"Qatar Investment Authority owns 211,746,156 ordinary shares (28.6%) of the issued share capital of the Company. There can be no certainty that an offer for the Company will be made.

"If an offer is made for Songbird and that offer becomes wholly unconditional then a mandatory offer will be required to be made for Canary Wharf Group plc, pursuant to Rule 9 of the Code."

(CD/JP)

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