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Sign in Sign up for a FREE subscriptionHong Kong investor acquires stake in Land Securities
Lifestyle International Holdings, a Hong Kong department stores operator, has assembled a £50 million (€56 billion/$61 billion) stake in Land Securities, the largest commercial property development and investment company in the U.K.
“The equity investment in Landsec was to enable the group to participate in the retail and commercial property market in the United Kingdom without having the need to own such physical properties,” the company said. “The acquisitions will be held by the group for long-term investment purpose with an aim to enhancing the returns on cash for the group in the long run.”