Capital & Counties says that it has entered exclusive talks to sell its Earls Court interest, just hours after Nick Candy confirmed that is preparing a bid for entire company.
Candy Ventures yesterday confirmed that it is considering an offer for the company’s listed share capital, valued at £2.3bn, potentially derailing CapCo’s plans to hive-off its £3.2bn London assets in Earl’s Court and Covent Garden.
CapCo said that there no approach had been made by Candy or any other party, but that plans to separate its two London estates were “well advanced”. CapCo also said it had entered into exclusivity talks with Delancey and APG over a potential sale of Earls Court.
Candy must either announce a firm intention to make an offer or back away by 18th November.
