CNC Properties has signed a deal with Channel Hotels and Properties (Chaps) to use CNC Grand Union as a joint venture vehicle for property investment and trading.
The joint venture company will acquire Chaps’ UK commercial property portfolio, giving it a £50m gross asset value financed by bank debt of £38m and shareholder loans of 7#163;12m.
- Financial Times 30/10/97 page 20 (News Digest)
