S&P Global Market Intelligence offers our top picks of European real estate news stories and more published throughout the week. Please note that some entries may have links to third-party sources that may require a subscription.
AccorHotels' trip Down Under
* AccorHotels signed a binding agreement to purchase all of Mantra Group Ltd.'s shares in a deal valuing the Australian company at A$1.18 billion. The bid has the Mantra board's support, and the deal will result in a combined group with 50,000 rooms across 300 hotels.
On the horizon
* Spain's Aedas Homes is planning an initial public offering on the Madrid Stock Exchange to raise up to €664 million, Property Investor Europe reported. Shares will begin trading Oct. 20. Aedas plans to use the proceeds to fund its expansion, with a target of constructing roughly 3,000 new residential assets annually by 2022.
* M7 Multi-Let REIT plc is seeking to raise as much as £300 million via an IPO on London Stock Exchange's main market and intends to become a real estate investment trust. Shares will be priced at 100 pence apiece, and the offering is conditional upon raising at least £147 million in minimum net proceeds.
Upping the ante
* Icade signed a binding agreement to acquire Eurazeo's €213 million majority stake in ANF Immobilier's share capital. Once the deal closes, Icade will hold 50.5% of ANF's share capital and 50.2% of its voting rights, minus any double voting rights attached to the shares.
Icade will also make a mandatory public tender offer for ANF's remaining share capital at an offer price of €22.15 apiece in November.
Two to tango
* Blackstone Group LP and Brookfield Asset Management Inc. have each made offers to acquire the 99%-owned hotel business of Banco de Sabadell SA, PropertyEU reported, citing Spanish newspaper El Confidencial. The business is valued at roughly €1 billion. Banco de Sabadell, which is reviewing the bids, may cancel its planned listing of HI Partners in favor of a direct sale, according to the report.
Kaleidoscope of deals
* Echo Polska Properties NV agreed to purchase a portfolio of 12 properties across Poland for €692.1 million from Chariot Top Group BV, doubling its retail gross lettable area.
* German fund manager Deka Immobilien paid €260 million to buy the 185-room W Amsterdam hotel from Cyprus-based Fentonir Trading & Investments, PropertyEU reported.
* Grosvenor Europe settled the £152 million sale of Grosvenor London Office Fund's 133-year leasehold stake in London's 10 Grosvenor St., Property Week reported.
* Edmond de Rothschild is planning a cash investment of €100 million in a new 55-room Four Seasons hotel in the Megeve ski resort village in the French Alps, Bloomberg News reported.
* Property fund manager ImocomPartners paid €97 million for a 53,000-square-meter retail park in Saint-Orens in Toulouse, France, Property Investor Europe reported.
* Austrian real estate company SIGNA Prime Selection AG raised €1 billion in shareholder capital, taking its total equity to more than €4 billion. SIGNA is also considering making an offer for Hudson's Bay Co.'s German department store chain Kaufhof and is in talks with an investment bank to arrange financing for the acquisition, Reuters reported.
* M&G Investments loaned £517 million to Lodha UK for its planned 48-unit luxury residential project in Mayfair, London, CoStar News U.K. reported.
* German pension scheme group Bayerische Versorgungskammer boosted the residential mandate for a fund advised by CapMan Real Estate to €500 million.
Featured during the week on S&P Global Market Intelligence
Conference Chatter: M&G Real Estate targeting up to €800M annual investment in mainland Europe
Conference Chatter: Sony Center just the beginning for Oxford Properties in Berlin, exec says
Ireland raises tax on commercial property transactions to 6% from 2%
Joyce Guevarra contributed to this report.