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Blackstone offers to buy Finnish real estate firm Sponda for $2 billion
June 5, 2017 / 6:52 AM / in 6 months

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

HELSINKI, June 5 (Reuters) - Private equity group Blackstone Group said on Monday it had offered to buy all shares in Finnish real estate investment company Sponda for about 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 premium of 20.7 percent compared to Sponda’s last closing price.

Sponda board recommends the shareholders to accept the offer.

The fair value of Sponda’s investment properties was about 3.8 billion euros in March.

Since 2015, Blackstone has acquired control of over 4 billion euros of properties in the Nordic region. ($1 = 0.8877 euros) (Reporting by Tuomas Forsell, editing by Jussi Rosendahl)

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