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Derwent London In Talks To Sell 50% Interest In 1-5 Grosvenor Place To Hongkong and Shanghai Hotels Ltd-DJ

Wednesday, 19 Jun 2013 02:13am EDT 

Dow Jones reported that Derwent London PLC said it has entered into heads of terms to sell its 50% interest in 1-5 Grosvenor Place SW1 to Hongkong and Shanghai Hotels Ltd or Peninsula Hotels, for GBP132.5 million. Heads of terms entered into with Peninsula Hotels are not legally binding and consequently the sale may or may not proceed. On completion of the proposed transaction with Peninsula Hotels, Derwent London will have received proceeds of almost GBP200 million from 1-5 Grosvenor Place since the start of 2012. 

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29 May 2015