Malaysia’s Sime Darby Bhd. and SP Setia Bhd.
are set to jointly acquire Battersea Power Station, one of London’s most iconic
landmarks, for GBP400 million from the administrators of the site.
Sime
Darby, the world’s largest listed palm oil producer by acreage, and Malaysia’s
largest listed property developer SP Setia were jointly named the preferred
bidder for site of the decommission power station and have signed an exclusive
agreement with administrator Ernst & Young LLP, according to a statement
Thursday.
Battersea
Power Station, which was built in the 1930s, was closed in 1983. While it
became a famous landmark after being featured on Pink Floyd album covers for
its distinctive chimneys, the site has become synonymous with difficult and
ultimately abandoned property redevelopment schemes. The site, loved by many
Londoners, has been the focus of numerous attempts by various developers to
revive its prospects.
Continue
reading on Deal Journal.
Jason
Ng
Business & Investment Opportunities
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