By Daniel Hunter
Canary Wharf looks set to be bought by the Qatar Investment Authority and Canadian investor Brookfield Properties for £2.6bn.
Songbird Estates, which owns Canary Wharf, had previously rejected an offer from the two firms, saying they had "significantly undervalued" the company.
But Songbird said it's three main shareholders plan to accept the offer, and will allow the deal to be completed once the shareholders' approval is official.
QIA and Brookfield Properties already have an interest in Canary Wharf. QIA owns 28.6% of Songbird and Brookfield owns 22% of Canary Wharf.
A source from the Canary Wharf Group told The Guardian that Sir George Iacobescu will stay on as Chairman: “It is still very much business as usual and the company will continue its development drive.
“QIA and Brookfield have expressed their appreciation of the achievements of Canary Wharf as a company, its management and its assets. George has been assured by the potential new shareholders of their full support for the group’s business plan and first rate staff.
“He and the team are looking forward to working with them during what will be one of the busiest and most successful phases of Canary Wharf so far.”
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