Business | Property

Dubai makes Dh8.82b bid for Trillium

The Investment Corporation of Dubai (ICD) has offered £1.2 billion (Dh8.82 billion) for Trillium, the property-management unit of Land Securities Group Plc, Property Week reported.

  • Bloomberg
  • Published: 23:29 July 11, 2008
  • Gulf News

Edinburgh: The Investment Corporation of Dubai (ICD) has offered £1.2 billion (Dh8.82 billion) for Trillium, the property-management unit of Land Securities Group Plc, Property Week reported.

The investment arm of the Government of Dubai made the bid with Vincent Tchenguiz's Consensus Business Group Ltd. and closely held AAIM Group Plc, the magazine said. The bid is higher than an offer by a group including Goldman Sachs Group Inc, Telereal Ventures Ltd and Macquarie Group Ltd, as well as one from Lend Lease Corp of Australia, Property Week said.

Land Securities plans to split itself into three and list Trillium as a separate, publicly traded company if the bids are too low, the report said. Land Securities values the business at £1.4 billion, Property Week said.

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