Deals
Great Portland in Talks to Cut City of London Project Stake
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Great Portland Estates Plc is in talks to cut its stake in 100 Bishopsgate, a development in the City of London financial district, to as little as 25 percent from 50 percent.
Great Portland, the best performing U.K. real estate investment trust in the last six months, is in discussions with more than one company about the stake, Chief Executive Officer Toby Courtauld said in a telephone interview today. Brookfield Properties Corp. owns the rest of the project, a skyscraper that will cost about 600 million pounds ($968 million) to build.