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Sign in Sign up for a FREE subscriptionStarwood bids $1b for Swedish property firm
Starwood Capital Group, through an affiliate Goldcup 16466 AB (under name change to Starlight Residential AB), has announced a public cash offer to the shareholders in Victoria Park to tender all their shares to Starlight Residential for SEK 8.68 billion ($1 billion).
Victoria Park AB is a listed property company, which, through long-term management and social responsibility for more attractive living, creates value in an expanding property portfolio in growth districts in Sweden. Victoria Park’s property portfolio amounts to 11.8 million square feet, comprising 13,500 flats, with a market value of SEK 15.4 billion ($1.84 billion).
A bid committee has instructed Svenska Handelsbanken to provide a fairness opinion regarding the offer and intends to disclose its view of the offer in connection with the publication of the offer document prepared by the bidder.
