March 1 (Reuters) - British Land Company Plc
* 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: Further company coverage: