Liberty International ne of the UK's largest listed property companies, is to split its 2.8 billion pound ($4.45 billion) business in one of the biggest corporate restructurings in the UK real estate sector, the Financial Times reported in its Friday edition.
A spokesman for Liberty could not be reached for comment.
The company plans to divide its UK property portfolio into two listed companies, the FT said. Its shopping centres would be split off into a real estate investment trust (REIT) while its London properties would be run as a separate listed company, the report said, without citing sources. It said an announcement on the plan could be made as soon as this month.
The REIT would have a market capitalisation of more than 2 billion pounds and the London property company would have an initial value of about 1 billion pounds, the Financial Times said.
UKCIG News, Feburary 2010
Friday, February 5, 2010
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