Blackstone offers to buy Finnish real estate firm

Blackstone offers to buy Finnish real estate firm
06/06/2017 , by , in INTERNATIONAL

Private equity group BlackstoneGroup said it had offered to buy all shares inFinnish real estate investment company Sponda forabout 1.8 billion euros ($2.0 billion) as it seeks to expand its real estate business in the Nordic region.

The cash offer, 5.19 euros per share, represents a premiumof 20.7 % compared to Sponda’s last closing price.

Sponda board recommends the shareholders to accept theoffer.

The fair value of Sponda’s investment properties was about3.8 billion euros in March.

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