NRE NorthStar Realty Europe Corp

   By Josh Beckerman 
 

Real-estate investor AXA Investment Managers, part of French insurer AXA (AXAHY, CS.FR), has agreed to buy NorthStar Realty Europe Corp. (NRE).

NorthStar said the estimated per-share value of $17.03 represents a 16.4% premium to its unaffected closing stock price of $14.63 on Nov. 6, before the company said it would review strategic alternatives. The exact value will reflect foreign exchange rates.

NorthStar said the review process included "a wide group of potential buyers."

For AXA IM, the deal provides "a rare opportunity to secure a significant portfolio of prime modern offices located in the major cities of Europe's largest economies of France, the U.K. and Germany, in a single transaction."

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

July 03, 2019 19:44 ET (23:44 GMT)

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