UK's Landsec buys 75% stake in MediaCity for $580 mln
Nov 3 (Reuters) - UK commercial landlord Land Securities Group Plc said on Wednesday that it had bought a 75% stake in MediaCity, a media and tech hub at Salford in Greater Manchester, for 425.6 million pounds ($580.1 million).
MediaCity was a 50:50 joint venture between Legal & General and Peel L&P, and the latter will now retain a 25% stake and continue to serve as asset and development manager. ($1 = 0.7337 pounds) (Reporting by Aby Jose Koilparambil in Bengaluru; Editing by Ramakrishnan M.)
