Songbird Estates, the owner of the Canary Wharf Group, has received a take-over approach from Qatar Investment Authority and Brookfield Property Partners.
In a statement, the board of Songbird said it received a preliminary joint approach from Qatar and Brookfield, expressing an interest in formulating an offer for the company.
“The board of Songbird will consider this approach in light of what is in the best interests of the shareholders in the company as a whole,” Songbird said.
“In the meantime, Songbird shareholders are advised to take no action.”
Brookfield and Qatar – which owns 28.6% of Songbird – now have until 4 December to announce a firm intention to make an offer.
“If an offer is made for Songbird and that offer becomes wholly unconditional, then a mandatory offer will be required to be made for Canary Wharf Group,” Songbird said.
In June, China Life and Qatar Holdings bought a 70% stake in 10 Upper Bank Street in London’s Canary Wharf.
Qatar took a 20% stake in the partnership behind the purchase, while a 10% stake was kept by Songbird.
More recently, South Korea’s National Pension Service (NPS) was reportedly selling the headquarters of HSBC at Canary Wharf to Qatar for an estimated £1.1bn (€1.42bn).
NPS paid around £800m for the tower in 2009.
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