Landsec, formerly Land Securities, completed the £111.9m purchase of a 42% portion of the X-Leisure Unit Trust, and acquired 100% of its management company, X-Leisure Limited.
The deal raised Land Securities’ holding in the X-Leisure Fund, owner of Xscape Milton Keynes (pictured), to 54%, while X-Leisure
Limited became a wholly owned subsidiary of Land Securities.
The move also meant X-Leisure Limited chief executive Pierre-Yves Gerbeau “[left] the business to take on new challenges” following the transfer of the management company.
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