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Germany's Alstria Office says aware of Brookfield exploring takeover offer

Reuters
Updated ·1 min read

(Reuters) -German real estate company Alstria Office REIT AG said on Wednesday it was aware that Canadian investment firm Brookfield might be exploring a potential takeover offer.

Alstria is currently not in negotiations with Brookfield about a potential takeover offer, it added.

Bloomberg News earlier on Wednesday reported https://www.bloomberg.com/news/articles/2021-07-21/brookfield-said-to-explore-purchase-of-germany-s-alstria-office?sref=V7uxlNge that Brookfield was working with advisers to evaluate a potential bid, sending Alstria's shares 9% higher.

Alstria owns about 120 office properties in major cities including Hamburg, Frankfurt and Berlin, where workers are returning as Germany eases its COVID-19 lockdown measures.

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The company has a market value of about $3.56 billion, with Brookfield having an 8.35% stake as of July 1.

Brookfield declined to comment.

Last month, Brookfield had agreed to buy UK-based infrastructure services company Modulaire Group for $5 billion. (https://reut.rs/2UzA7xd)

(Reporting by Ankit Ajmera in Bengaluru; Editing by Ramakrishnan M. and David Evans)