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.

READ  Airbnb bets on strong summer travel to drive revenue growth By Reuters

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)

Source link

Leave a Reply

Your email address will not be published.