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Kennedy Wilson Europe to Raise $1.2 Billion in Property IPO

Kennedy Wilson Europe Real Estate Plc plans to raise about 750 million pounds ($1.25 billion) selling shares on the London Stock Exchange, and will use some of the proceeds to buy European properties.

Kennedy Wilson will sell shares in an initial public offering at 10 pounds each, it said in a statement today. The company has agreed to buy two portfolios with 40 office, industrial and retail properties in the U.K., valued at about 223 million pounds, it said.