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Wereldhave sells U.S. property for $720 mln to Lone Star Funds
January 7, 2013 / 7:45 AM / in 5 years

Wereldhave sells U.S. property for $720 mln to Lone Star Funds

AMSTERDAM, Jan 7 (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.

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