IN BRIEF: Big Yellow reduces debt gearing with property disposals
Big Yellow Group PLC - Bagshot, England-based self-storage facility operator - Agrees to sell an industrial estate in Staines, Surrey for GBP36.5 million. Big Yellow says it has also now received GBP2 million retained from the previous sale of its industrial estate in Harrow. Between the two disposals, Big Yellow will receive GBP75 million gross. As a result, the company's multiple of net debt to adjusted earnings is set to improve to its target of 3.5 times from 3.7 times at present, it notes. Read More