Kennedy Willson Europe/Kennedy Wilson Holdings merger

Overview:

• Kennedy Wilson Europe Real Estate (KWE) and parent company Kennedy Wilson Holdings (KW) have agreed a merger.
• KWE shareholders will receive 0.667 shares in the US business for each share owned. Kennedy Wilson Europe shareholders will own around 36% of the combined company.
• The merger will create a combined group with a market capitalization of around $4 billion with a 400 property portfolio.
• The deal will be effected by means of a court-sanctioned scheme of arrangement under Article 125 of the Jersey Companies Law.
• KW is a global real estate investment company focused on the US, UK, Ireland, Spain, Italy and Japan markets.
• KWE is an LSE listed real estate investment company.
• Goldman Sachs and Bank of America Merrill Lynch are advising KW. 
• Rothschild and JPMorgan Cazenove advised KWE.

Sam Duke - Editor