CPPIB to sell U.K. student housing business Liberty Living to Unite
Canada Pension Plan Investment Board (CPPIB) has agreed to sell London, U.K.-based student accommodation business Liberty Living Group Plc to The Unite Group Plc. CPPIB, which acquired Liberty Living in 2015, said the sale will generate pre-closing net proceeds of about $1.3 billion. Reuters said the cash-and-stock deal is valued at US$1.8 billion. CPPIB will retain a 20 percent interest in the combined business, which will oversee more than 73,000 beds across 173 properties in the United Kingdom. Two European assets within Liberty Living are not included in the transaction and are currently being marketed.
3 July 2019•4 mins read
