05.03.2015 - Exec reveals how Brookfield, Qatar conquered Canary Wharf
Brookfield Property Partners' chief executive has lifted the lid on the three-month long battle for Canary Wharf, which culminated in the largest UK property deal for a decade. Canada's Brookfield and the Qatar Investment Authority (QIA), the state's sovereign wealth fund, first launched their £2.6bn bid for Songbird, the estate's owner, in November. But, if it was be successful, the pair would need to get one of Songbird's three major shareholders on board. This meant they needed China Investment Corporation, Morgan Stanley or New York billionaire Simon Glick. "Going into this, we knew China Investment Corporation and Morgan Stanley would be sellers. Simon Glick was a bit of an unknown," Ric Clark, chief executive of Brookfield, told the Wall Street Journal...............................................Full Article: Source
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