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    GWO   CA39138C1068

GREAT-WEST LIFECO INC.

(GWO)
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Green REIT narrows buyout field to four - Sunday Times

06/30/2019 | 06:28am EDT

DUBLIN (Reuters) - Green REIT, the 1.3 billion euro-valued Irish real estate investment trust that put itself up for sale in April, has narrowed the field of bidders to four, the Sunday Times newspaper reported.

The firm, which became Ireland's first REIT when it joined the stock market in 2013, made the surprise announcement after it said shareholders were stuck with a "material and persistent" discount between its share price and the value of its portfolio.

Great-West Lifeco owned Irish Life and Kennedy Wilson remain in the running, the Sunday Times said.

Other parties linked to the bidding include Canadian investment group Brookfield, which has wind farm and telecoms interests in Ireland and German funds, including Union Investment, part of the DZ Bank group, the newspaper added.

Green REIT is looking to either sell the entire company or its 1.5 billion euro portfolio of assets which are focused on commercial property in the Dublin area with tenants including Barclays, Allied Irish Banks, Bank of America and WeWork. J.P. Morgan Cazenove is the lead adviser on the deal.

A spokesman for Green REIT said the company is not commenting on any aspect of the sales process.

(Reporting by Padraic Halpin; Editing by Raissa Kasolowsky)


© Reuters 2019
Stocks mentioned in the article
ChangeLast1st jan.
BANK OF AMERICA CORPORATION 0.41% 41.86 Delayed Quote.38.11%
BROOKFIELD ASSET MANAGEMENT INC. 0.05% 60.36 Delayed Quote.14.71%
GREAT-WEST LIFECO INC. 0.44% 36.65 Delayed Quote.20.76%
GREN PROP 0.00%End-of-day quote.41.48%
KENNEDY-WILSON HOLDINGS, INC. 0.29% 20.64 Delayed Quote.15.37%
THE LEAD CO., INC. -2.19% 715 End-of-day quote.-14.88%
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More news
Financials
Sales 2021 66 951 M 55 047 M 55 047 M
Net income 2021 2 983 M 2 453 M 2 453 M
Net Debt 2021 - - -
P/E ratio 2021 11,7x
Yield 2021 4,78%
Capitalization 34 037 M 27 993 M 27 985 M
Capi. / Sales 2021 0,51x
Capi. / Sales 2022 0,49x
Nbr of Employees 24 500
Free-Float 26,1%
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Technical analysis trends GREAT-WEST LIFECO INC.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Average target price 37,56 CAD
Last Close Price 36,65 CAD
Spread / Highest target 9,14%
Spread / Average Target 2,47%
Spread / Lowest Target -1,77%
EPS Revisions
Managers and Directors
NameTitle
Paul Anthony Mahon Co-President, Chief Executive Officer & Director
Jeffrey F. Macoun Co-President & Chief Operating Officer
Garry MacNicholas Chief Financial Officer & Executive Vice President
Robert Jeffrey Orr Chairman
Philip Armstrong Global Chief Information Officer & Executive VP
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1st jan.Capitalization (M$)
GREAT-WEST LIFECO INC.20.76%27 993
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MANULIFE FINANCIAL CORPORATION9.23%39 517