F&C Asset Management’s property business has completed its buyout of Leo Noé’s REIT Asset Management.
In a stock exchange announcement today, the company said the combined business would now be called F&C REIT Asset Management, with £8.5bn of assets under management.
The deal was announced in July with F&C paying £25m in cash and £35m in loan notes to REIT’s owners, Noé and Ivor Smith, for a 70% stake in the business.
