Norges Bank has increased its stake in Capco from 14.09% to just over 15% days after the REIT agreed to acquire a 26.3% shareholding in its West End neighbour Shaftesbury.
Norges also holds more than 25% of Shaftesbury’s shares.
Capco is buying the substantial stake in Shaftesbury from Hong Kong-based Samuel Tak Lee for £436m, equating to 540p per share.
The company expects to complete the acquisition of 64.4m shares by 3 June for £348m in cash, representing 20.9% of the holding. The purchase of the remainder of Tak Lee’s holding, consisting of 16.3m shares, is subject to Capco shareholder agreement.
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