Landsec To Buy Metrocentre For £516 Million

By Reuters News

Oct 1 (Reuters) - Land Securities Group PLC LAND.L:

  • LAND SEC. GROUP PLC - LANDSEC ACQUIRES 100% STAKE IN METROCENTRE

  • LAND SECURITIES - LANDSEC TO BUY 100% STAKE IN METROCENTRE FOR £516 MILLION NET CASH

  • LAND SECURITIES - ACQUISITION TO BE FUNDED VIA EQUITY ISSUE AND EXISTING DEBT FACILITIES

  • LAND SECURITIES - EXPECTS 3-5% GROWTH IN LIKE FOR LIKE NET RENTAL INCOME FOR YEAR ENDING MAR 31, 2027

  • LAND SECURITIES - ACQUISITION EXPECTED TO COMPLETE BY END OF OCTOBER

Further company coverage: LAND.L

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