Freshfields Bruckhaus Deringer has advised British Land on its £740m rights issue as the property development company moves to shore up its finances. British Land, the UK's second-largest real estate investment trust, last week sold 50% of its stake in the Meadowhall shopping centre to London & Stamford Property and reported that the value of its property portfolio had declined by more than 13% in value during the fourth quarter of 2008.The company will issue more than 340 million new shares at 225p per share.
February 13, 2009 at 06:06 AM
1 minute read
The original version of this story was published on Legalweek
Freshfields Bruckhaus Deringer has advised British Land on its £740m rights issue as the property development company moves to shore up its finances.
British Land, the UK’s second-largest real estate investment trust, last week sold 50% of its stake in the Meadowhall shopping centre to London & Stamford Property and reported that the value of its property portfolio had declined by more than 13% in value during the fourth quarter of 2008.
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