Saturday May 28, 2022

UK’s Capco and Shaftesbury in talks about $4 billion merger


© Reuters. A general view of The Lyric Theater and The Apollo Theater on Shaftesbury Avenue, in London, Britain, March 15, 2021. Picture taken March 15 2021. REUTERS/Henry Nicholls/File Photo

(Reuters) – London’s West End focused commercial landlords Capital & Counties Properties Plc and Shaftesbury Plc are in advanced talks about a 3.5 billion pound ($4.32 billion) merger, Sky News reported on Saturday.

The companies are in detailed discussions about an all-share tie-up that could be announced within weeks, the report said.

As of November, Shaftesbury owned about 600 buildings in the heart of London’s West End, which includes Carnaby Street and Chinatown.

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In June 2020, Capital & Counties Properties (Capco) bought a 26.3% stake in Shaftesbury from Hong Kong tycoon Samuel Tak Lee for 436 million pounds ($537.85 million).

Shaftesbury and Capco did not immediately respond to a Reuters request for comment.

($1 = 0.8106 pounds)



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