15th Jan 2015 09:25
LONDON (Alliance News) - Development Securities PLC on Thursday said it has struck a deal to buy Extreme Cool Ltd, the owner of the Chill Factore ski slope and activity centre in Manchester, for GBP15.5 million.
Development Securities has acquired the business in a joint venture with Pemberstone Investments Ltd, and the deal was part-financed by a GBP10.5 million facility from ICG-Longbow.
Revenue from the ski slope and retail units at the centre will generate an income of GBP1.5 million per year for Development Securities.
Shares in Development Securities were up 2.4% at 226.75 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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