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

GBA Holdings

01/03/2017 11:10

March 1 (Reuters) - British Land Company Plc  BLND.L  
    * Exchange of contracts for the Leadenhall building 
    * 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 
    * Completion is conditional on approval by shareholders of C 
C Land. 
    * completion expected to take place no more than 5 business 
days after investor approval is obtained, which is expected no 
later than 28 june 
    * Proceeds received by British Land for its interest will 
initially be used to pay down revolving credit facilities, 
pending redeployment 
    * 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 
    * 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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