On Monday we noted that Trinity Mirror had issued an acknowledgement over weekend media speculation that it was on the cusp of buying part of Northern & Shell. This morning it has been confirmed that the publishing assets of N&S are being acquired for a total of £126.7 million. Trinity Mirror shareholders will need to give their approval to the proposed takeover at a meeting later this month, but the growth of the digital presence is seen as a key driver behind the acquisition.
Property giant British Land has announced this morning it has acquired a 4.9 acre site in South East London – the Woolwich estate – for £103 million. This is an already developed site of 56 retail units, but the company sees great prospects here as the new Elizabeth Line will open at the end of the year, ultimately connecting the area directly to Canary Wharf, Bond Street and Heathrow Airport.
Keeping with property, US listed CBRE published its full year results yesterday and the market was impressed. Shares ended up lower on the day, but against the heavy sell-off seen across the Atlantic, investors were clearly cheered by the 18% improvement in earnings. The company is a true global player, with revenue growth in the UK and Spain being highlighted as having helped the success of the business.