Shaftesbury and Capital & Counties merger to pay £68m to bankers, lawyers and political analysts
The £5bn merger between Shaftesbury and Capital & Counties (Capco) will result in a £68.7m payout to bankers, lawyers and politicians.
Documents released last night by the country’s two biggest landlords show they each expect to collect more than £30m linked to the deal.
Legal, financial, accounting and public consultancy, as well as other fees, will cost Capco £33m. While Shaftesbury’s bill will be £35.7m.
Shaftesbury owns large parts of Chinatown, Carnaby Street and upmarket Fitzrovia north of Oxford Street
In May, the pair announced a merger that would bring together some of the most valuable areas of London’s West End.
Shaftesbury owns much of Chinatown, Carnaby Street and upscale Fitzrovia north of Oxford Street. Capco’s portfolio includes the Covent Garden market.
The combined firm will control 2.9 million square feet of prime real estate in central London, including shops, restaurants, offices and residential properties.
Shaftesbury shareholders will own 53 percent of the combined company, while Capco investors will own the remaining 47 percent.