Warner Estate has bought Anglo Irish Bank out of the joint venture vehicle it used for the pair’s £170m takeover of industrial specialist Ashtenne in May.
Anglo Irish was a 50% partner in Industrial Funds Limited, the takeover vehicle.
Philip Warner, chairman of Warner Estate, said:
“Following the completion in June of the purchase of Ashtenne by IFL, we have made good progress with the disposal of surplus assets and I am delighted to be able to complete the successful integration of the Ashtenne Industrial Fund with this acquisition.”
Warner is now full owner of Ashtenne.
Last month the group bought £80m of property for the fund, boosting its value to £860m.
References: EGi News 06/12/05
