2bn pounds sterling float will crown the fall and rise of Canary Wharf

Article Abstract:

Businessman Paul Reichmann, who headed a group of investors to purchase the Canary Wharf development in London, England, from its bankers in 1995 for 800 million pounds sterling, plans to place 25% of the shares with institutional investors. It is forecast that the flotation will raise 500 million pounds sterling. The proceeds will be partly used for the Canary Wharf Group's final contribution of 70 million pounds sterling to 90 million pounds sterling to the Jubilee Line extension. Canary Wharf Group also aims to reduce its debt by 350 million pounds sterling.

Comment:

Will place 25% of investors shares with institutional investors

Subdividers and developers, not elsewhere classified, Acquisitions & mergers, England, Office & Commercial Developers, Securities, Commercial developers

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Man of leisure

Article Abstract:

Freeport Leisure was set up by Sean Collidge, who has set up a retail center with a space where women can leave their male partners. He developed the idea of factory outlet sites, which had been successful in the US but not tried in the United Kingdom. He aims to attract shoppers all day, so non-shoppers such as children and husbands are catered for with leisure activities. He sees retail developments as successful when mixed with leisure, and his formula appears likely to succeed.

General Merchandise Stores, Services information, Shopping Center Developers, Investments, Retail stores, Shopping centers, Freeport Leisure Ltd.

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Rescuer of Canary Wharf gets ready to take wing again

Article Abstract:

Strong abilities in sales and marketing have allowed Sir Peter Levene to establish a positive reputation during his two years as chief executive of property development Canary Wharf, a position from which he is now departing. He took the post as Canary Wharf came out of administration, and has been able to turn it into an asset and a strong business district. He has played a particularly important role in changing public perceptions of the development.

Interview, Levene, Peter

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