Sign up to save your podcasts
Or
Share Capco confirms interest in Earls Court
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
Capco confirms interest in Earls Court
Capco confirms interest in Earls Court. The central London property owner says it will evaluate the terms of any proposed offer against the merits of a demerger and other options.
Capital & Counties Properties has confirmed speculation that it's making headway in its preparations for a possible demerger of its property assets. However, the central London property investor says it's also received a number of proposals in relation to its interests in Earls Court which it's considering. These include discussions talks with Hong Kong-based property developer CK Asset Holdings on a conditional proposal for the sale of most of its interests in Earls Court Properties, excluding its Lillie Square residential joint venture.
Earlier this year, Capco said it was considering separating into a real estate investment trust that would own the central London shopping district of Covent Garden and a development company focused on the Earls Court regeneration project.
Capco itself was formed in 2010 out of the demerger of Liberty International's UK assets, which separated its central London-focused investment and development division from its shopping centres business, which was renamed Capital Shopping Centres at the time and subsequently become intu properties. Liberty International was founded by Donald Gordon.
The company said it would evaluate the terms of any proposal against the merits of a demerger and other options.
At this stage there is no certainty that a transaction will proceed and any transaction would be expected to be subject to closing conditions," Capco said.
Its shares closed 4.4% up at R49.65. The announcement was made after the close of trade.
Billionaire Li Ka-Shing's CK Asset is in talks to buy into Capital & Counties Earls Court project. Scoop on @TheTerminal
-- Jack Sidders (@JackSidders) November 5, 2018
Capco: Like this one, a lot. Two-year consolidation continues. Possible sale of Earls Court may be the trigger for a break. Pre-demerger this is a one-time opportunity for a buyer. Capco ex EC with the blue-chip Covent Garden and low debt would be a very attractive investment. pic.twitter.com/a7SHaxPZWb
-- Karin Richards (@Richards_Karin) November 5, 2018
View all episodes
By INCE|Connect NewsCapco confirms interest in Earls Court. The central London property owner says it will evaluate the terms of any proposed offer against the merits of a demerger and other options.
Capital & Counties Properties has confirmed speculation that it's making headway in its preparations for a possible demerger of its property assets. However, the central London property investor says it's also received a number of proposals in relation to its interests in Earls Court which it's considering. These include discussions talks with Hong Kong-based property developer CK Asset Holdings on a conditional proposal for the sale of most of its interests in Earls Court Properties, excluding its Lillie Square residential joint venture.
Earlier this year, Capco said it was considering separating into a real estate investment trust that would own the central London shopping district of Covent Garden and a development company focused on the Earls Court regeneration project.
Capco itself was formed in 2010 out of the demerger of Liberty International's UK assets, which separated its central London-focused investment and development division from its shopping centres business, which was renamed Capital Shopping Centres at the time and subsequently become intu properties. Liberty International was founded by Donald Gordon.
The company said it would evaluate the terms of any proposal against the merits of a demerger and other options.
At this stage there is no certainty that a transaction will proceed and any transaction would be expected to be subject to closing conditions," Capco said.
Its shares closed 4.4% up at R49.65. The announcement was made after the close of trade.
Billionaire Li Ka-Shing's CK Asset is in talks to buy into Capital & Counties Earls Court project. Scoop on @TheTerminal
-- Jack Sidders (@JackSidders) November 5, 2018
Capco: Like this one, a lot. Two-year consolidation continues. Possible sale of Earls Court may be the trigger for a break. Pre-demerger this is a one-time opportunity for a buyer. Capco ex EC with the blue-chip Covent Garden and low debt would be a very attractive investment. pic.twitter.com/a7SHaxPZWb
-- Karin Richards (@Richards_Karin) November 5, 2018