Shaftesbury and Capital & Counties merger set to trigger a £68m payday for bankers, lawyers and spin doctors
The £5billion merger of Shaftesbury and Capital & Counties (Capco) will trigger a £68.7million payday for City bankers, lawyers and spin doctors.
Documents released last night by two of the country’s biggest landlords show each are expecting to rack up fees of more than £30million associated with the deal.
Legal, financial, accounting and public relations advice, as well as other fees, will cost Capco £33million. While Shaftesbury’s bill will be £35.7million.
Shaftesbury owns large parts of Chinatown, Carnaby Street and upmarket Fitzrovia, north of Oxford Street
In May the pair announced a merger that will unite some of the most valuable areas of London’s West End.
Shaftesbury owns large parts of Chinatown, Carnaby Street and upmarket Fitzrovia, north of Oxford Street. Capco’s portfolio includes Covent Garden market.
The combined firm will control 2.9m square feet of prime real estate in central London, including shops, restaurants, offices and housing.
Shaftesbury shareholders would own 53 per cent of the combined company, with Capco investors owning the remaining 47 per cent.