Capital and Counties is in talks with two bidders, HNA Group and Yoo Capital, to sell its £300m Olympia exhibition centre, W14.
Chinese conglomerate HNA has put in an offer for the venue with specialist investment company Bugsby Property. Yoo Capital is also understood to be in talks with Capco with a separate bid.
In a statement this morning, Capco said: “Capco confirms that it is in advanced discussions concerning the sale of Venues, its exhibition business, comprising Olympia London together with certain related property assets for a price in line with the 31 December 2016 valuation.
“There is no certainty that the sale will proceed and further announcements will be made as appropriate.”
Capco has been considering selling Olympia since 2015. The venue had an EBITDA of £19m last year, with a capital value of £293m.
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