AXA Investment Managers to Buy NorthStar Realty Europe
July 03 2019 - 7:59PM
Dow Jones News
By Josh Beckerman
Real-estate investor AXA Investment Managers, part of French
insurer AXA (AXAHY, CS.FR), has agreed to buy NorthStar Realty
Europe Corp. (NRE).
NorthStar said the estimated per-share value of $17.03
represents a 16.4% premium to its unaffected closing stock price of
$14.63 on Nov. 6, before the company said it would review strategic
alternatives. The exact value will reflect foreign exchange
rates.
NorthStar said the review process included "a wide group of
potential buyers."
For AXA IM, the deal provides "a rare opportunity to secure a
significant portfolio of prime modern offices located in the major
cities of Europe's largest economies of France, the U.K. and
Germany, in a single transaction."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
July 03, 2019 19:44 ET (23:44 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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