Saudi Prince Alwaleed bin Talal has sold 41% of his investment in Canary Wharf, a high-rise financial district in London's Docklands. Alwaleed sold 28.2 million shares of Songbird Estates, the owner of the concrete Canary Wharf isthmus in east London.
On 21 May 2004, Songbird Acquisition Limited (a consortium including Morgan Stanley-Sponsored Funds and Simon Glick) declared its offer for Canary Wharf Group plc wholly unconditional. As a result of this announcement, Songbird Estates plc became the ultimate parent company of Canary Wharf Group plc and, together with Songbird Acquisition Limited its wholly owned subsidiary, held approximately 66.32 per cent of the issued share capital of Canary Wharf Group plc.
