IGB sells 50% stake in London real estate for RM600mil

KUALA LUMPUR: IGB Bhd has sold its entire 50% equity interest and shareholder debt in a freehold title in London to a unit of global real estate group Hines for GBP104.375mil (RM600mil).

In a filing with Bursa Malaysia, IGB said its unit Verokey Sdn Bhd and Tower Ray Ltd each sold their 50% stakes in joint venture Black Pearl Ltd, which owns the land known as 18 Blackfriars Road, SE1, London, and transferred their shareholder debt to HNG Blackfriars 1 Ltd for GBP208.75mil.