Shaftesbury Capital Forms Strategic Partnership with Norges Bank

Shaftesbury Capital ( (GB:SHC) ) just unveiled an announcement.

Shaftesbury Capital PLC has announced a strategic partnership with Norges Bank Investment Management, selling a 25% non-controlling interest in the Covent Garden estate for approximately £570 million. This transaction, valuing the estate at £2.7 billion, is expected to enhance Shaftesbury Capital’s financial flexibility, allowing for debt reduction and investment opportunities, while maintaining management control over the estate. The partnership is anticipated to be earnings-enhancing and positions the company for growth in London’s West End.

More about Shaftesbury Capital

Shaftesbury Capital PLC operates in the real estate industry, focusing on managing and developing a portfolio of properties primarily in London’s West End. Its primary assets include retail, food and beverage, office, and residential properties, with a significant market focus on high-footfall, mixed-use destinations like Covent Garden.

YTD Price Performance: -6.06%

Average Trading Volume: 3,612,799

Technical Sentiment Consensus Rating: Buy

Current Market Cap: £2.28B

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