AXA Investment Managers – Real Assets has agreed to acquire Northstar Realty Europe for £1bn. NYSE-listed NRE has a prime portfolio of 12 offices totalling 1.3m sq ft, and two hotels with 334 bedrooms, in London, Paris, Berlin and Hamburg. The transaction follows the announcement in November 2018 that NRE was considering a possible sale of the company. AXA IM has agreed to pay $16.95 per share based on spot foreign exchange rates, representing a 15.8% premium to the share price prior to this announcement. The acquisition is subject to approval by majority of NRE shareholders and completion is expected
Access the full EG article for free
Register now and read two complimentary EG articles in full every week and discover why EG’s trusted real estate intelligence is essential for your business
Register
Find Out More