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US: WP Carey goes after CPA:16 for $4B

By  |  August 1, 2013

Financing firm WP Carey Inc announced last Thursday it has struck a deal to merge with Corporate Property Associates 16, a public non-traded company, for a transaction worth about $4 billion. Reports say the combined company is part of an effort for WP Carey to expand its business from investment management into a global net lease REIT. Shareholders of both firms will need to approve of the deal. Projections place the new company to hold an equity market capitalization at about $6.5 billion.

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