Largest UK developer will consider company break up during strategic review
Land Securities has announced a review of its business structure in the wake of its REIT conversion.
Yesterday the Daily Telegraph reported that Land Securities was considering breaking up the company, following a 20% fall in shares since the start of the year.
The company said the review is “well progressed” and further updates would follow.
If a break up of the business did go ahead it would likely see a spin off of its outsourcing business Trillium. Other options would be to separate its retail from its commercial business.
Chief executive Francis Salway said: “It became evident to us in the run up to and following REIT conversion that we should test our current business structure against alternative options to ensure that we have the optimal structure for creating long term shareholder value.”
Shares rose 15p to £18.27 this morning.