Brookfield and Qatari sovereign wealth fund put in an offer for Canary Wharf owner Songbird Estates

 
Emma Haslett
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Canary Wharf is 69 per cent owned by Songbird Estates (Source: Getty)

Qatar's sovereign wealth fund has partnerred with developer Brookfield Property Partners to make an approach for Songbird Estates, the owner of Canary Wharf.

In a statement to the stock exchange this afternoon, Aim-listed Songbird confirmed Brookfield and the Qatar Investment Authority had approached it with an offer, adding that the Qataris already owned a 28.6 per cent stake in Songbird. Meanwhile, Brookfield owns 22.08 per cent of Canary Wharf Group, of which Songbird owns 69.3 per cent.

The statement came in response to a story in Real Estate Capital, which said the pair had approached Songbird yesterday afternoon.

Songbird's portfolio is valued at £6.28bn, and includes assets such as One Canada Square. It added that if an unconditional offer is made, "then a mandatory offer will be required to be made for Canary Wharf Group".

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