News Archive

Press Release Acquisition

ACQUISITION

St Modwen Properties PLC announces the acquisition of Boughton Holdings, a non-trading financial investment company with book value assets of £93m, but with a fair value of nil. The consideration is wholly contingent upon achieving certain performance criteria but will not exceed £15m, payable over seven years. The acquired company will not contribute to operating profits, but is expected to have a beneficial effect on the group’s tax position. It forms a non-aggressive tax planning scheme with payments linked entirely to results.

T P Haywood
Finance Director
For further information please contact St. Modwen Properties PLC on 0121 456 2800 or at info@stmodwen.co.uk