Slough pulls it off

Article Abstract:

Slough Estates Chairman Sir Nigel Mobbs points out PricewaterhouseCooper were responsible for finding a way for his firm to takeover Bilton. Bilton's portfolio is valued at 300 million pounds sterling. Family disharmony within the company made them more vulnerable and Slough Estates felt they were going to be supported by Schroders, the biggest institutional shareholder in Bilton. But the proposed takeover was strongly opposed by some members of the Bilton family. Industry experts suggest Slough Estates made a very good deal when they purchased Bilton for 276 million pounds sterling.

Mergers, acquisitions and divestments, Real estate investment, Real estate investments, Company Profile, Slough Estates PLC, Percy Bilton PLC

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DTZ stands by funds forecast

Article Abstract:

There will be short-term caution among property investors and lenders in the UK as a result of political and economic uncertainties, according to DTZ. However, DTZ predicts in its report 'Money into Property' that pension funds and insurance companies will invest a record 2.3 billion pounds sterling in property in 1998. Property will remain an attractive investment because tenant demand is strong and because property is quite stable compared with equities. In contrast, a report from Merrill Lynch indicates a move away from property.

Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds

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Property pulse

Article Abstract:

Investment figures from Hillier Parker for central London investments show that in the third quarter of 1996 transactions were over one billion pounds sterling, with projected amounts reaching 2.5 billion pounds sterling for 1996. This would be the best year since 1990 for investment activity. Germany invested 800 million pounds sterling in the third quarter. The Chancellor's increase in interest rates to 6% from 5.75% is seen to have little effect on the property market.

Acquisitions Analysis-Foreign, Economic aspects, Acquisitions and mergers, International aspects, Statistics, House buying, Home buying, Foreign business enterprises

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