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Blackstone offers $2 billion for Finnish real estate firm Sponda

Staff Writer |
Blackstone Group said on Monday it had offered to buy all shares in Finnish real estate investment company Sponda for about 1.8 billion euros ($2 billion) as it seeks to expand its real estate business in the Nordic region.

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The cash offer, 5.19 euros per share, represents a premium of 20.7 percent compared to Sponda's last closing price.

Sponda's properties, which include office and retail spaces in Finland's largest cities, were valued at about 3.8 billion euros in March.

"Our proposed acquisition represents another step in Blackstone's long-standing strategy of investing in high quality real estate assets and businesses across the Nordic region," James Seppala, Blackstone's head of European real estate said in a statement.

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