Indiabulls Real Estate and two subsidiaries of Embassy Group have entered into a definitive agreement to merge their residential and commercial projects across markets to create one of the largest property development...
Merger Plan: Indiabulls Real Estate, Embassy to fix valuation, swap ratio
Indiabulls Real Estate and Embassy Group will finalise the valuation and swap ratio for their proposed merger on Tuesday. In separate meetings, the two real estate developers will also decide the time frame and exact...
Evergrande sells property management unit stake for $3 billion ahead of possible IPO
China Evergrande Group said it sold 28% of a property management unit for HK$23.5 billion ($3 billion), bringing in strategic investors ahead of a possible IPO for the unit. Shares in Evergrande jumped more than 6% in...
Merlin Properties buoyed by Brookfield bid report
Shares in Spain’s Merlin Properties rose as much as 13% in early Tuesday trading after the Expansion newspaper reported that Canadian fund Brookfield was considering a takeover bid. Merlin, which manages a portfolio of...
Resolution plan of real estate firm Unitech can be shared: Supreme Court
The Supreme Court on Friday said the resolution plan of the newly-constituted board for Unitech Ltd can be shared on its portal to solicit suggestions from the parties to help resurrection of the embattled real estate...
Australia’s Cromwell Property gets offer for 29% stake from largest shareholder
Australia’s Cromwell Property Group said on Tuesday it had received a takeover bid from its largest shareholder, ARA Asset Management, for 29% of its stapled securities. Under the offer, made via ARA Real Estate...
Property firm Capco buys HK tycoon’s stake in London rival Shaftesbury
Capital & Counties Properties has agreed to buy a 26.3% stake in London rival Shaftesbury from Hong Kong tycoon Samuel Tak Lee’s for 436 million pounds ($540.7 million), the real estate manager said on Monday. Both...
German property groups LEG and TAG terminate merger discussions
German property groups LEG Immobilien and TAG Immobilien have terminated their merger discussions over disagreement on valuation, LEG said in a statement late on Tuesday. “No agreement could be reached particularly with...
Immofinanz picks CEO with stake in on-off merger target S Immo
Austrian property group Immofinanz on Thursday named investor Ronny Pecik as its next chief executive, a move that will fuel speculation about a merger with rival S Immo since he owns stakes in both companies. A tie-up...
Tabreed buys 80% of Emaar Properties’ Dubai cooling business for $675 million
Dubai-listed National Central Cooling co (Tabreed) has bought an 80% stake in Emaar Properties’ Downtown Dubai district cooling business for 2.48 billion dirhams ($675 million), the companies said on Monday. Emaar will...
Dubai’s Emaar sells majority of cooling business to Tabreed for $675 million
Emaar Properties has sold an 80% stake in its cooling business in the prime Dubai Downtown area to National Central Cooling Co (TABREED) for 2.48 billion dirhams ($675 million), the companies said on Monday. Emaar will...
Merger of property groups S Immo and Immofinanz back on the table
Shareholder changes at Immofinanz mean Austrian property rival S Immo SLAG.VI would be open to renewing merger talks once the coronavirus crisis is over, the chief executive of S Immo said on Thursday. A tie-up between...
