Valad is to delist from the stock exchange in Sydney after the Court of New South Wales approved the takeover of the international real estate company by affiliates of US private equity firm Blackstone Real Estate Advisors.

In a statement Valad said it has requested the suspension of the official quotation of its stapled securities, and the final day of trading on the Australian Securities Exchange will be Friday 12 August.

Earlier in August Valad's shareholders overwhelmingly approved the takeover that values Valad at roughly A$800 mln (EUR 580 mln).

Valad has an international network of local offices managing A$9 bn of multi-let commercial and industrial property in seven geographic regions.

Valad has 300 staff and 23 offices in 13 countries. The company's European investment management business encompasses 15 funds with EUR 5 bn in assets at year-end 2010.