CapCo takes half of Earl's Court
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.
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.