Brookfield Asset Management Inc. has agreed to buy Hibernia REIT Plc. in a deal valuing the Irish company at about 1.09 billion euros ($1.2 billion).
Benedict Real Estate Bidco Ltd., a subsidiary of one of Brookfield’s real estate private funds, will pay 1.634 euros a share in cash, according to a statement Friday. The price represents a 33.9% premium to Hibernia’s average share price over the past three months.
Brookfield has been on an acquisition spree across Europe as it bets on the future of the office and takes advantage of the discounts to asset value at which many of the continent’s landlords trade. The private equity firm is also in the process of buying Belgian office owner Befimmo SA and German landlord Alstria Office REIT-AG.
Read more: BNN Bloomberg
