Real Estate News

Blackstone offers to buy Finnish real estate firm Sponda for $2 billion

HELSINKI: Private equity group BlackstoneGroup said on Monday 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.

Since 2015, Blackstone has acquired control of over 4billion euros of properties in the Nordic region.($1 = 0.8877 euros)

By: Tuomas Forsell (Editing by Jussi Rosendahl)

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