LONDON (dpa-AFX) - Helical plc (HLCL.L) has exchanged contracts to acquire from the vendor, 100 New Bridge Street Limited, the Guernsey incorporated single asset company, FPM 100 New Bridge Street Limited, that owns 100 New Bridge Street, London EC4, an office building for a cash consideration of 160 million pounds. The proposed acquisition is conditional on shareholder approval at a General Meeting.
Gerald Kaye, Chief Executive of Helical, said: 'The acquisition of 100 New Bridge Street provides us with the opportunity to carry out a major refurbishment, which will have less impact on the environment than a ground up development, and which we will be able to deliver more quickly.'
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