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Property tie-up puts London landlords in charge

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Property tie-up puts London landlords in charge - aimeedonnellan -

British real estate firms Capital & Counties Properties and Shaftesbury said on May 7 they were in advanced talks on a merger that would bring London tourist destinations Covent Garden and Soho under one umbrella.

The two companies did not disclose a value for the deal. Sky News reported on May 7 the merged businesses would have a valuation of 3.5 billion pounds. Capco bought a 26.3% stake in London rival Shaftesbury from Hong Kong tycoon Samuel Tak Lee for 436 million pounds in 2020.

 

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