(MENAFN) Madison International Realty, one of Songbird Estates shareholder, announced they are planning to accept Qatar Investment Authority's (QIA) offer for the British property company, Arabian Business reported.
Qatar Investment has previously made a bid along with an American partner, Brookfield, Property Partners for the owner of London's Canary Wharf financial district but the owners refused the offer despite QIA raising the value of the bid to USD4 billion.
QIA said that Madison, which holds shares that represent approximately 12 percent of Songbird, informed it that it was in the process of telling Songbird that it accepted the offer made by the fund, thus joining fellow shareholder Third Avenue Management, which also backed the QIA bid.
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