Brookfield completes €1bn Hibernia purchase
Brookfield has completed its €1bn (£860m) purchase of Ireland’s Hibernia REIT.
Benedict Real Estate Bidco, a subsidiary of one of Brookfield’s real estate private funds, has acquired the entire issued and to be issued share capital of Hibernia, which will today be struck from both Euronext Dublin and the London Stock Exchange.
The price paid for the REIT, excluding the dividend, represents a 35.6% premium to Hibernia’s closing share price of €1.18 on 24 March.
Brookfield has completed its €1bn (£860m) purchase of Ireland’s Hibernia REIT.
Benedict Real Estate Bidco, a subsidiary of one of Brookfield’s real estate private funds, has acquired the entire issued and to be issued share capital of Hibernia, which will today be struck from both Euronext Dublin and the London Stock Exchange.
The price paid for the REIT, excluding the dividend, represents a 35.6% premium to Hibernia’s closing share price of €1.18 on 24 March.
Hibernia owns and develops property and specialises in Dublin city centre offices.
Following the completion of the deal, directors Roisin Brennan, Margaret Fleming, Stewart Harrington, Grainne Hollywood, Fergal O’Dwyer, Conall O’Halloran and Terence O’Rourke have all resigned.
Andrew O’Shea has been appointed as a director of the company in their place.
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Image from Hibernia REIT
