Real estate investment trust Hispania Activos Inmobiliarios has agreed to be bought by Blackstone for around €2bn following a revised offer.
Hispania, a Spanish REIT (Socimi), said Alzette Investment, a vehicle controlled by Blackstone, has submitted a binding proposal to amend a voluntary takeover bid it launched on 12 June.
The offer has now been increased from €17.45 for each Hispania share to a revised bid price of €18.25 a share each.
Hispania said the revised bid price per share is adequate and that the directors of Hispania will “unanimously recommend” the price to Hispania’s shareholders.
Hispania’s current portfolio includes more than 180,000sqm in offices, 650 dwellings and 46 hotels. The real estate asset portfolio is currently valued at €2.81bn.