23rd Jun 2006 07:00
British Land Co PLC23 June 2006 23 June 2006 British Land acquires Partner's Share of BL Davidson Limited The British Land Company PLC has exchanged contracts to acquire the outstanding50% ownership of the BL Davidson joint venture. British Land is purchasing for approximately £253 million the 50% shareholdingheld by the Davidson family interests, in consideration for loan stock to beissued by the Company. Completion is expected in August. The joint venture was formed in 2001 by British Land and the Davidson familyinterests to acquire Asda Property Holdings Limited, an established andsuccessful property investment company built up by Manny Davidson over manyyears. It specialises primarily in Retail Parks - the overwhelming majority ofwhich are in Open A1 Retail - and Central London offices. The current investmentportfolio has a value of over £700 million. Contacts The British Land Company PLCBob Bowden 020 7467 2892Graham Roberts 020 7467 2948Laura de Vere 020 7467 2920 FinsburyFaeth Birch 020 7251 3801 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
British Land