{"id":30268,"date":"2022-05-09T16:17:59","date_gmt":"2022-05-09T16:17:59","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group"},"modified":"2022-05-09T16:29:55","modified_gmt":"2022-05-09T16:29:55","slug":"capco-in-talks-to-merge-with-another-london-property-group","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group","title":{"rendered":"Capco in talks to merge with another London property group"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Two prime property landlords in London are planning to merge their operations, which will give local investors a sizeable exposure to the British property industry.<\/p>\n

On Monday, JSE-listed Capital & Counties Properties (Capco), which was spun out of Liberty International in 2010, said it was exploring a possible merger with Shaftesbury, which owns 600 properties in London’s West End.<\/p>\n

Capco said if the proposed merger goes through, it will own 47% of the combined company. The rest of the company will be owned by other Shaftesbury shareholders. Capco currently owns 25.2% of Shaftesbury. Their respective stakes in the merged company were determined by the companies\u2019 assets and market capitalisations.<\/p>\n

“Subject to finalisation of such terms, it is currently envisaged that the possible merger will be structured as an acquisition of Shaftesbury by Capco,” wrote Capco in a statement.<\/p>\n

The merger will create a real estate investment trust (REIT) company focused on the West End of London with a portfolio of about 2.9 million square feet of space to rent.<\/p>\n

About 1.8 million square feet is retail and hospitality space, with office space and residential accommodation representing up the rest.<\/p>\n

Capco owns \u00a31.7 billion (~R33.8 billion) worth of prime properties in London\u2019s Covent Garden, a popular shopping and tourist site that continued to see strong leasing demand, even during the pandemic. It did particularly well in the second half of 2021.<\/p>\n

Shaftesbury owns properties clustered mainly in Carnaby, Seven Dials and Chinatown \u2013 as well as in Covent Garden, Soho and Fitzrovia.<\/p>\n

Capco said Norges Bank, a major shareholder in both Shaftesbury and Capco, has also signalled its support for the two companies to explore a merger.<\/p>\n

But the full terms of the possible merger have not been finalised yet, and it’s still not a done deal until due diligence is done on both sides and there is an offer on the table that both companies will be happy with.<\/p>\n

Capco’s share price gained almost a percent to R31.73 in late morning trading on the JSE on Monday.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Two prime property landlords in London are planning to merge their operations, which will give local investors a sizeable exposure to the British property industry. On Monday, JSE-listed Capital & Counties Properties (Capco), which was spun out of Liberty International in 2010, said it was exploring a possible merger with Shaftesbury, which […]<\/p>\n","protected":false},"author":84,"featured_media":30267,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5,8],"tags":[274,315,1811,1808,1812,1810,1809,275],"class_list":["post-30268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","category-homepage-english","tag-africa-press","tag-africa-press-south-africa","tag-capco","tag-capital-counties-properties","tag-landlords","tag-listed-property","tag-reits","tag-south-africa-2"],"yoast_head":"\nCapco in talks to merge with another London property group - South Africa<\/title>\n<meta name=\"description\" content=\"Two prime property landlords in London are planning to merge their operations, which will give local investors a sizeabl ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Capco in talks to merge with another London property group\" \/>\n<meta property=\"og:description\" content=\"Two prime property landlords in London are planning to merge their operations, which will give local investors a sizeabl ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-05-09T16:17:59+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-05-09T16:29:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/05\/postQueueImg_7-627941649069e.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"403\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Capco in talks to merge with another London property group\",\"datePublished\":\"2022-05-09T16:17:59+00:00\",\"dateModified\":\"2022-05-09T16:29:55+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group\"},\"wordCount\":354,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2022\/05\/postQueueImg_7-627941649069e.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"capco\",\"capital & counties properties\",\"landlords\",\"listed property\",\"reits\",\"South-Africa\"],\"articleSection\":[\"all news\",\"economy\",\"homepage-english\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/capco-in-talks-to-merge-with-another-london-property-group\",\"name\":\"Capco in talks to merge with another London property group - 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