JPMorgan Chase and Morgan Stanley have been tapped as global coordinators for Emaar Properties PJSC's initial public offering of its retail business and properties, according to sources. The share sale, through which Emaar plans to raise $2.2 billion, is expected to be the largest in the Middle East and Africa since 2008.
To expand holdings of single-tenant net-lease buildings, American Realty Capital Properties says it will purchase CapLease in a $2.2 billion transaction that includes debt assumption. According to a regulatory filing, ARCP will pay $8.50 for each share, totaling about $755 million. The price is a 20% premium to CapLease's closing share price Friday.