UK’s Capco and Shaftesbury in talks about $4 billion merger
[ad_1]
© Reuters. General view of The Lyric Theatre, and The Apollo Theatre, 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.
According to the report, both companies have been in discussions regarding an all-share merger that may be made within weeks.
Shaftesbury had approximately 600 properties in London’s West End as of November. This includes Carnaby Street, Chinatown, and Carnaby Street.
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).
Reuters reached out to Capco and Shaftesbury for comments but they did not respond immediately.
($1 = 0.8106 pounds)
[ad_2]