Lone Star Buys U.S. Assets of Wereldhave

Dutch property group Wereldhave has agreed to sell all its U.S. assets for $720 million to U.S. private equity group Lone Star Funds, Wereldhave said on Monday. Wereldhave, which had earlier announced its intention to leave the U.S. market, said in a statement the total proceeds were about 5 percent above the properties’ book value.

(Reuters) – Dutch property group Wereldhave has agreed to sell all its U.S. assets for $720 million to U.S. private equity group Lone Star Funds, Wereldhave said on Monday.

Wereldhave, which had earlier announced its intention to leave the U.S. market, said in a statement the total proceeds were about 5 percent above the properties’ book value.

It said it will use the money to reduce debt.

Leave a Reply

PEHUB Community

Join the 12505 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Look Who’s Tweeting

PE HUB News Briefs

RSS Feed Widget

VCJ Headlines (subscribers only)

RSS Feed Widget

Buyouts Headlines (subscribers only)

RSS Feed Widget

Reuters VC and PE feed

RSS Feed Widget