Kennedy Wilson to acquire European subsidiary

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
1101 Flower Street in L.A. with  Tony Lombardo of Lendlease and Zhang Xifang of Oceanwide. Xifang reportedly resigned in July 2021. (Google Maps, Lendlease, Oceanwide)
Contractor bails on Oceanwide’s LA megaproject after scoring $42M judgment
Contractor bails on Oceanwide’s LA megaproject after scoring $42M judgment
Renderings of The Star
The Star, a $500M office tower project, looks to light up Hollywood
The Star, a $500M office tower project, looks to light up Hollywood
The Boyd Street fire in May, 2020 (Getty)
LA fire captain sues building, vape shop owners over May 2020 explosion in downtown
LA fire captain sues building, vape shop owners over May 2020 explosion in downtown
(Getty Images)
SoCal’s “Space Beach” is ready for liftoff
SoCal’s “Space Beach” is ready for liftoff
Clockwise from top left: Kilroy Realty CEO John Kilroy, Boston Properties CEO Owen Thomas, TMG Partners CEO Michael Covarrubius and Eastdil Secured CEO Michael Van Konynenburg (Kilroy, LinkedIn via Thomas, TMG Partners, LinkedIn via Van Konynenburg, Getty)
“We gotta get people back to the office”: West Coast landlord execs press for return
“We gotta get people back to the office”: West Coast landlord execs press for return
Oxford Properties CEO Michael Turner and the campus (Oxford)
Oxford moves into LA with $134M industrial buy
Oxford moves into LA with $134M industrial buy
Post-production campus in Burbank sells for $37M
Post-production campus in Burbank sells for $37M
Post-production campus in Burbank sells for $37M
G6 Hospitality CEO Rob Palleschi and Motel 6 San Jose South, one of the largest assets in the portfolio (G6)
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
Blackstone’s Motel 6 portfolio gets $685M CMBS loan
arrow_forward_ios

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

Loading...