20th Mar 2025 06:42
Shaftesbury Capital PLC - real estate investment trust formed from merger of Capital & Counties Properties PLC and Shaftesbury PLC - Confirms it is in advanced discussions with Norges Bank Investment Management over a potential partnership in relation to its Covent Garden portfolio. Says Covent Garden, in the West End of London, was independently valued at GBP2.7 billion as at December 31.
Shaftesbury anticipates that such a transaction, if completed, would result in Norges Bank becoming a 25% shareholder in the Covent Garden portfolio. Says it would retain control and management of the portfolio. The deal would position Shaftesbury strongly to pursue further long-term value creation and growth opportunities across its portfolio, it says. There is no certainty that any transaction will be agreed, Shaftesbury warns.
Stock price in Johannesburg: ZAR27.52
12-month change: down 15%
Stock price in London: 117.90 pence
12-month change: down 13%
By Artwell Dlamini, Alliance News reporter
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