(Bloomberg) -- Ireland’s Green REIT Plc agreed terms to sell itself to an affiliate of private equity firm Henderson Park Capital Partners U.K. in a deal valued at about 1.34 billion euros ($1.5 billion).
Henderson Park will pay 1.9135 euros per share in cash for Green, Henderson Park said in a statement on Wednesday. The price is a 24.7% premium to the real estate firm’s share price before it began a process to sell itself in April because it said investors were undervaluing the firm.
Buying Green “offers a rare opportunity to invest in a large institutional quality office portfolio and a strategic logistics park through a single transaction,” Henderson Park Chief Executive Officer Nick Weber said. “We believe in the short-term and long-term prospects of the Irish market with its strong macroeconomic backdrop and underlying real estate fundamentals.”
JP Morgan Cazenove Ltd. is lead financial adviser and corporate broker to Green REIT, while Dublin-based securities firm Davy is joint financial adviser and corporate broker. Eastdil Secured LLC and Wells Fargo Securities LLC are financial advisers to Henderson Park.
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