LONDON (Thomson Financial) - Teesland PLC said Australia-listed Valad
Property Group is buying Scarborough Property Holdings PLC, which holds a 72.3
pct stake in Teesland, for 865 mln stg to set up European and Australasian
platforms for its operations and product offerings.
The asset management company said it expects the transaction to be completed
by mid-July.
Scarborough provides Valad with the opportunity to leverage its business
model into the UK and European property markets, Valad said.
TFN.newsdesk@thomson.com
ash/tsm/jlc
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