CapCo takes half of Earl's Court
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Liberty International’s Capital & Counties has entered into a joint venture with Earl’s Court & Olympia in a £380m deal.
As reported by Property Week (18-05-07) Capital & Counties entered into talks with Earls Court owners Anthony Lyons and Simon Conway earlier this year.
CapCo is though to have beaten Chelsfield Partners, the developer and investor led by Elliott Bernerd and Sir Stuart lipton, and US investor Westbrook.
Capital & Counties has agreed to acquire a 50% interest in the exhibition business for around £375-£380m.
The partnership will own and manage Earls Court and Olympia Exhibition Centres and the Brewery in Chiswell Street.
Anthony Lyons said: ‘We came to this business with a plan to increase shareholder value and the equity and reputation of the brand. We are delighted to have created this relationship with Capital & Counties which will enable EC&O Venues to build on its position as owner and operator of London's leading event venues.’
EC&O is owned by St James Capital, owned by Anthony Lyons, David Coffer and Simon Conway.
