Burford plans to demerge most of its stake in Grantchester. It is raising its minority shareholding in Grantchester to 70% by injecting two retail warehouse parks in Huddersfield and Falkirk valued at £41.5m and £10m cash. Burford’s new majority holding wiull be distributed on the basis of one Grantchester share for every 13 Burford shares held. The exercise will leave Burford with about a 24% stake following Grantchester’s planned flotation next month.
- Financial Times 08/10/96 page 24
- The Times 08/10/96 page 26
- The Independent 08/10/96 page 24
