Brief: British Land Co to sell Leadenhall Building to C C Land for £1.15 bln

C C Land Holdings

01/03/2017 12:21

March 1 (Reuters) - British Land Company Plc  BLND.L  
    * British Land and Oxford Properties exchange contracts for 
sale of Leadenhall building to C C Land 
    * Deal for a headline price of £1.15 billion 
    * Consideration will be received in cash and apportioned in 
equal shares to British Land and Oxford Properties 
    * Disposal is slightly dilutive to British Land's earnings 
per share and slightly accretive to its net asset value per 
share 
    * Proceeds received by co for its interest will initially be 
used to pay down revolving credit facilities, pending 
redeployment 
    * British Land, Oxford Properties were advised by Cushman & 
Wakefield, Eastdil Secured, Mayer Brown and Herbert Smith 
Freehills 
 
Source text for Eikon:  ID:nRSA2177Ya  
Further company coverage:  BLND.L  
 
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