Canary Wharf Group PLC said shareholders approved the disposal of 5 Canada Square and 25 Canada Square, the Canary Wharf tower, to The Royal Bank of Scotland PLC. Completion of the disposal of the two properties is a condition of an offer for Canary Wharf Group by Silvestor UK Properties Ltd.
The offer by Silvestor, announced on Dec 5, remains the only offer for Canary Wharf and has been unanimously recommended by the Independent Committee, Silvestor said in a separate statement.
Silvestor UK Properties Ltd is a wholly owned subsidiary of Silvestor Holdings Ltd.
Shareholders of Silvestor Holdings will include Morgan Stanley Real Estate Fund IV International limited partnerships, a series of real estate private equity opportunity funds sponsored by Morgan Stanley, the Glick Entities, Whitehall 2001 Funds, Morgan Stanley Real Estate Special Situations Fund II and Princes Gate Investors.