Liberty International Plc - Disposal Of 25.5 Per C
Liberty International Plc - Disposal Of 25.5 Per Cent Shareholding In
Great Portland Estates Plc (`GPE`)
LIBERTY INTERNATIONAL PLC
(Registration number UK3685527)
ISIN Code: GB0006834344
JSE Code: LBT
Issuer Code: LILI
14 October 2004
LIBERTY INTERNATIONAL PLC
DISPOSAL OF 25.5 PER CENT SHAREHOLDING IN GREAT PORTLAND ESTATES PLC (`GPE`)
Liberty International announces that it has agreed to dispose of its 25.5 per
cent shareholding in GPE (41.5 million ordinary shares) to Real Estate Funds
(and their affiliates) controlled by Morgan Stanley at a price of 297.5 pence
per share for a total consideration of GBP123.4 million.
The aggregate proceeds of GBP149.3 million (including the return of capital from
GPE earlier this year) exceed original cost by GBP29 million, of which around
GBP27 million will be reflected as an exceptional profit in Liberty
International`s 2004 profit and loss account.
The disposal continues Liberty International`s record of profitably engaging in
property-related investment activities alongside the group`s core direct
property business which is predominantly focussed on retail property,
particularly prime regional shopping centres.
Enquiries:
Liberty
International PLC:
David Fischel Chief Executive +44 (0)20 7960
1207
Aidan Smith Finance Director +44 (0)20 7960
1210
UBS Limited:
Tim Guest +44 (0)20 7568
2549
James Geary +44 (0)20 7568
2308
This announcement includes statements that are forward-looking in nature.
Forward-looking statements involve known and unknown risks, uncertainties and
other factors which may cause the actual results, performance or achievements of
Liberty International PLC to be materially different from any future results,
performance or achievements expressed or implied by such forward-looking
statements. Any information contained in this announcement on the price at
which shares or other securities in Liberty International PLC have been bought
or sold in the past, or on the yield on such shares or other securities, should
not be relied upon as a guide to future performance.
UBS Limited (`UBS`) is acting for Liberty International PLC in connection with
the above transaction and no one else and will not be responsible to anyone
other than Liberty International PLC for providing the protections offered to
clients of UBS nor for providing advice in relation to the transaction.
Profile Group (Pty) Ltd. has taken care in preparing all information on this website, but does not accept any liability for errors or out-of-date information.
