Kennedy Wilson to acquire European subsidiary

Combined firms will have $4 billion market cap

TRD LOS ANGELES /
Apr.April 25, 2017 12:00 PM

Beverly Hills real estate firm Kennedy Wilson Holdings will combine shares with its European counterpart, Kennedy Wilson Europe Real Estate, it announced Monday.

The European firm was spun off as a United Kingdom-based public company in 2014, the Los Angeles Business Journal reported.

The combined companies will have market capitalization of $4 billion and a portfolio of 400 sites worldwide.

William McMorrow, CEO of Kennedy Wilson, said the company should be able to boost dividends by 12 percent following the transaction, which is expected to close in the third quarter.

“The enterprise will benefit from greater scale and improved liquidity, which will enhance our ability to generate attractive risk-adjusted returns for our shareholders,” he said in a statement.

Kennedy Wilson Europe Real Estate owns office and retail properties throughout the U.K. and Ireland. Its portfolio includes more than 200 assets valued at $3.68 billion, according to the journal. [LABJ]Subrina Hudson


Related Articles

arrow_forward_ios
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
Interest rate drops spur loan requests from multifamily borrowers (Credit: iStock)

Multifamily owners rush to refinance their mortgages

Multifamily owners rush to refinance their mortgages
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
Best of TRD 2019 promo

Coming soon: The Real Deal’s Best of 2019

Coming soon: The Real Deal’s Best of 2019
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...