5th Nov 2018 15:47
LONDON (Alliance News) - Capital & Counties Properties PLC on Monday confirmed it is preparing for a possible demerger.
The property investor and developer said it was responding to press speculation. The company also said that it has received, and is considering, "a number of proposals relating to its interest in Earls Court Properties". These proposals do not include the firm's Lillie Square joint venture.
Capital & Counties said that it will evaluate any of these proposals against the merits of a demerger, with no certainty of any transaction proceeding.
"Further announcements will be made in due course as appropriate," Capital & Counties said.
Shares in Capital & Counties were down 5.6% at 268.90 pence on Monday afternoon in London. Shares in South Africa closed up 4.4% at ZAR49.65.
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