Brookfield and Qatari sovereign wealth fund put in an offer for Canary Wharf owner Songbird Estates
Qatar's sovereign wealth fund has partnerred with developer Brookfield Property Partners to make an approach for Songbird Estates, the owner of Canary Wharf.
In a statement to the stock exchange this afternoon, Aim-listed Songbird confirmed Brookfield and the Qatar Investment Authority had approached it with an offer, adding that the Qataris already owned a 28.6 per cent stake in Songbird. Meanwhile, Brookfield owns 22.08 per cent of Canary Wharf Group, of which Songbird owns 69.3 per cent.
The statement came in response to a story in Real Estate Capital, which said the pair had approached Songbird yesterday afternoon.
Songbird's portfolio is valued at £6.28bn, and includes assets such as One Canada Square. It added that if an unconditional offer is made, "then a mandatory offer will be required to be made for Canary Wharf Group".