Saint-Gobain is looking to sell its European Verallia glass bottle making business for roughly $3.45 billion, following the $1.7 billion sale of Verallia's U.S. operations to Ardagh, sources said. The sale of all remaining Verallia businesses and assets is expected to begin in late February or early March.
Wheeler REIT launched its initial public offering this week, offering about 3 million shares. The company specializes in retail real estate. "We focus on necessity retail, necessity shopping, for people that are buying goods and services on a daily basis," says President and Chairman Jon Wheeler.
The industry can expect more operator consolidation in the health care real estate sector, said Jay Flaherty, chairman and CEO of HCP, at REITWorld 2012: NAREIT's Annual Convention for All Things REIT. "We believe that, much like what happened in the aerospace defense industry consolidation after the defense budget got cut significantly in the late 1980s, you're going to see a lot of consolidation and you're going to see the best-in-class companies get larger," he said.
The Washington state Department of Transportation has received federal approval for a $3.45 billion project to replace the SR520 bridge across Lake Washington. The six-lane bridge will be 5.2 miles long. Planning for the project has been going on for 15 years, and $400 million has already been spent on it.