West End foray breathes life into UK property M&A

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West End foray breathes life into UK property M&A aimeedonnellan

UK property group Capital & Counties Properties said on June 1 it had agreed to buy a 26.3% stake in London rival Shaftesbury from Hong Kong tycoon Samuel Tak Lee for 436 million pounds.

Both Capco and Shaftesbury own large parts of the real estate in London’s West End district. Capco will acquire the stake from Veloqx, a trust set up by Tak Lee, for 540 pence per share, a discount of 13.9% to Shaftesbury’s closing share price on May 29.

 

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