The consortium circling ITV are in for a huge property shock: the independent television company does not actually own its Gray’s Inn Road headquarters, in central London.
Apax Partners, Goldman Sachs and Blackstone had planned to sell the building, which could be worth up to £140m. But it has emerged a Luxembourg-based company bought it last year for £112.5m.
The sale of the building is reportedly a central plank of the bidders’ savings plan if the takeover succeeds.
References: The Guardian 31/03/06 page 28
