Songbird Estates deal backer Third Avenue ups stake in firm

Brookfield Property Partners has bid $4 billion for Songbird in conjunction with Qatar
Songbird Estates deal backer Third Avenue ups stake in firm
(Getty Images)
By Reuters
Thu 11 Dec 2014 02:08 PM

The group attempting to buy Songbird Estates has said that one of the target firm's shareholders supporting its offer had increased its stake in Songbird.

Brookfield Property Partners, which has bid $4 billion for Songbird in conjunction with Qatar, said Third Avenue Management had upped its stake to 26,268,989 Songbird shares.

In a separate statement, the Qatar Holding Shareholder Group said it had designated Ken Costa as a director of Songbird, to take its representation on the board back to three.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.