Blackstone Investment Fund sells Logicor and ready to buy Finnish Sponda

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Blackstone Investment Fund sells Logicor and ready to buy Finnish Sponda
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The US investment Fund Blackstone has sent a proposal to purchase the Finnish company Sponda Oyj for 1.76 billion euro, according to a press release of the Fund.




Blackstone offered 5.19 euro per share of Sponda, which is 21% higher than the company's quoted prices at the closure of trading last Friday. The Board of Directors of the Finnish company recommended the shareholders to approve the deal.

As a result, on Monday, Sponda’s shares rose in trading by 21%.

As a reference, Sponda owns various real estate projects, including shopping malls, and through its acquisition, Blackstone is looking to expand its real estate portfolio in Scandinavia.

Also, on Monday, Blackstone announced the sale of logistics operator Logicor to China Investment Corporation (CIC) for 12,25 billion euro. The transaction is expected to be closed later this year.



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