F&C, UKCPT Pen £1.6B Real Estate Merger

Law360, New York (June 9, 2010, 7:22 PM EDT) -- British commercial property trust F&C Commercial Property Trust Ltd. has agreed to merge with UK Commercial Property Trust Ltd., a move that will create a property company with market value worth £1.6 billion ($2.5 billion).

The deal, revealed Wednesday, is expected to result in the United Kingdom's sixth-largest property company, according to F&C.

The acquisition will be effected through a voluntary solvent liquidation of F&C and the issue of new ordinary shares by UKCPT, the company said.

The move comes after UKCPT sold off a 16.5...
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