Capital & Counties Properties to acquire 5% stake in Shaftesbury for $89m.

Capital & Counties Properties, a United Kingdom-based property investment and development company, agreed to acquire 5% stake in Shaftesbury, a British real estate investment trust, for $89m. The placing price of $0.55, resulting in a shareholding in Shaftesbury following completion of the capital raising of over 25 per cent. Capco has also committed to vote in favour of the requisite resolutions at the General Meeting of Shaftesbury shareholders.