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BRIEF-British Land Co to sell Leadenhall Building to C C Land for £1.15 bln
March 1, 2017 / 12:29 PM / 7 months ago

BRIEF-British Land Co to sell Leadenhall Building to C C Land for £1.15 bln

March 1 (Reuters) - British Land Company Plc

* 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: Further company coverage:

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