Sun Life Financial to merge Bentall Kennedy with GreenOak Real Estate
Sun Life Financial Inc said Dec. 19 that it plans to merge Bentall Kennedy with GreenOak Real Estate. Sun Life said it plans to buy a majority of the combined Bentall Kennedy and GreenOak entity that will be named Bentall GreenOak. Sun Life Financial said it will contribute its interest in Bentall Kennedy and pay GreenOak shareholders C$195 million ($146 million) for 56 percent of the combined Bentall GreenOak entity. Sun Life said it would have an option to acquire the remaining interest in Bentall GreenOak in about seven years from the closing. GreenOak Real Estate is a real estate investment firm with approximately C$14 billion (US$11 billion) in assets under management.
19 December 2018•7 mins read
