Northwood Investors to sell 25% of CeGeREAL to GIC
(Thomson Reuters ONE) -
Paris & Singapore, 6 April 2016, 7pm - Northwood Investors LLC ("Northwood")
today signed an agreement to sell a 25% stake in CeGeREAL to an affiliate of
GIC, Singapore's sovereign wealth fund, at the price of ?35.65 per-share[1].
Following the completion of the transaction to occur in the following days,
Northwood's entities will hold in concert 57.48% of CeGeREAL.
The sale of a 25% stake to GIC will be the final step in a series of successful
sales by Northwood to ensure preservation of the SIIC status of CeGeREAL.
"Northwood is excited that GIC will become a significant shareholder in
CeGeREAL; and that it believes in the company's vision to grow its asset base
over time and to become a best in class French office REIT," said John Kukral,
Northwood's founder and director on the board of CeGeREAL.
Madeleine Cosgrave, Deputy Head of Real Estate, Europe at GIC commented: "As a
long-term value investor, GIC is keen to build scale in the French real estate
market. We believe this transaction represents a good opportunity to gain
exposure to a high-quality portfolio and to support management in its vision to
grow CeGeREAL into a larger office platform."
J.P. Morgan and Brookfield Financial acted as financial advisors to Northwood on
this transaction.
About Northwood
Northwood is a privately-held global real estate investment and management firm
with over 150 employees worldwide and total assets under management of
approximately $9 billion. Northwood employs a fundamental, value-driven
investment strategy with a longer-term outlook and a focus on key global cities,
including New York City, Los Angeles, San Francisco, London and Paris. Northwood
currently owns and manages a diverse portfolio of real estate assets worldwide
including office, retail, residential, industrial and hospitality properties.
For further information on Northwood, visit: www.northwoodinvestors.com
About GIC
GIC is a leading global investment firm with well over US$100 billion in assets
under management. Established in 1981 to secure the financial future of
Singapore, the firm manages Singapore's foreign reserves. A disciplined long-
term value investor, GIC is uniquely positioned for investments across a wide
range of asset classes, including real estate, private equity, equities and
fixed income. GIC has investments in over 40 countries and has been investing in
emerging markets for more than two decades. Headquartered in Singapore, GIC
employs over 1,200 people across 10 offices in key financial cities worldwide.
For more information on GIC, please visit www.gic.com.sg.
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[1] which corresponds to the price of the offer launched by Northwood on
CeGeREAL's shares.
Press release (PDF):
http://hugin.info/171822/R/2001382/738422.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northwood Investors International Limited via GlobeNewswire
[HUG#2001382]
Unternehmensinformation / Kurzprofil:
Datum: 06.04.2016 - 19:23 Uhr
Sprache: Deutsch
News-ID 462378
Anzahl Zeichen: 3850
contact information:
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"Northwood Investors to sell 25% of CeGeREAL to GIC"
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