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Earls Court & Olympia in possible £400m sale
Investment bank UBS and corporate financers Long Acre have been appointed to advise the owners of Earls Court & Olympia (EC&O) Group on a possible sale which could be worth an estimated £400m.
E&CO is owned by leisure property specialists St James Capital – controlled by Anthony Lyons, Simon Conway and David Coffer – who acquired it in May 2004 from Candover Investments for £245m.
It is understood that St James has received a number of unsolicited approaches for the business – which also includes the Brewery at Chiswell Street in London.
In November, the group dismissed reports that Chelsea football club owner Roman Abramovich had tried to purchase either Earls Court, Olympia or parts of the surrounding property to create a new stadium for his team.
However, Lyons recently told Estates Gazette: “We bought this business for a 24- to 36-month window. So this is early, but if people keep knocking on your door, you can’t keep rebuffing them.”
More than 170 shows are held in the two venues each year, attracting more than 3.8 million visitors and 25,000 exhibiting companies. Details: www.eco.co.uk
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