Shaftesbury Capital (SHC)

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Share Price:
150.80p
Market Cap:
£2,955.60m
Change Today:
0.30p
Sector:
Property Investment Trusts

CMA to probe Shaftesbury and Capital & Counties tie up

By Abigail Townsend

Date: Tuesday 15 Nov 2022

LONDON (ShareCast) - (Sharecast News) - The competition watchdog is to probe the proposed merger between London property firms Shaftesbury and Capital & Counties, it was confirmed on Tuesday.
In a brief statement, the Competition and Markets Authority said it had decided to investigate the deal - first announced in June - and invited interested parties to comment by 2 December.

The CMA said it wanted to consider if the merger of the two West End landlords could lead to a "substantial lessening" of competition.

The combined company, to be called Shaftesbury Capital, will own some of London's most well-known real estate, including Covent Garden, Carnaby Street, Chinatown and Soho, in a portfolio worth around £5bn.

Shaftesbury shareholders will own 53% of the combined entity, and Capco investors 43%.

As at 1130 GMT, shares in Shaftesbury were off 2% at 385p while Capco was down 1% at 109.4p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

SHC Market Data

Currency UK Pounds
Price 150.80p
Change Today 0.30p
52 Week High 154.50p
52 Week Low 126.30p
Volume 3,948,911
Shares Issued 1,959.95m
Market Cap £2,955.60m

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