British real estate firms Capital & Counties Properties and Shaftesbury Plc said they were in advanced talks on a merger that would bring such London tourist destinations as Covent Garden and Soho under one umbrella.
said they were in advanced talks on a merger that would bring such London tourist destinations as Covent Garden and Soho under one umbrella.
They did now give a value for the deal. Sky News reported the merged businesses would have a valuation of 3.5 billion pounds .The companies said the merger would create a real estate investment trust focussed on London's West End with a portfolio of some 2.9 million square feet "in high-profile destinations including Covent Garden, Carnaby, Chinatown and Soho".
The potential deal comes as London has started to pick up from pandemic lows and travellers get back on planes with easing of COVID-19 quarantine rules after nearly two years.
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