4th Oct 2013 10:55
LONDON (Alliance News) - Arbuthnot Banking Group PLC Friday said that it has exchanged contracts with discretionary investment company, GMS BRICKS, for the sale and leaseback of 7-21 Wilson Street in London.
The banking and financial services group said that it expects to complete the sale and leaseback agreement within the next 10 working days, for a cash consideration of GBP26.215 million payable on completion.
It said the net gain from the transaction is expected to be GBP5.8 million, which it will use to pursue additional growth opportunities.
Arbuthnot shares were trading 5% higher before midday Friday, at 951.85 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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