Liberty International

From Wikipedia, the free encyclopedia
Jump to: navigation, search
Liberty International plc
Type Public
Industry property
Fate Renamed as Capital Shopping Centres Group plc after demerger
Successor(s) Capital Shopping Centres Group, Capital & Counties Properties
Founded 1980
Headquarters London, England, UK
Key people Patrick Burgess, (Chairman)
David Fischel (CEO)
Products shopping centres, commercial & residential property
Revenue £578.9 million (2009) [1]
Operating income £(460.9) million (2009)[1]
Net income £(370.1) million (2009)[1]

Liberty International plc was a British property investment company. It switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. A former constituent of the FTSE 100 Index, it changed its name to Capital Shopping Centres Group plc after the May 2010 demerger of its Capital & Counties Properties unit.

[edit] History

The Company was established by Sir Donald Gordon in 1980 under the name of Transatlantic Insurance Holdings plc as an offshoot Liberty Life Association of Africa, a business he had founded in 1957.[2] The Company developed into a leading investor in life assurance businesses in the 1980s only divested its remaining life assurance interests (a 29% holding in Sun Life) in 1991.[3] In 1992 it merged with Capital & Counties, a leading shopping centre developer, so securing itself a listing on the London Stock Exchange.[3] It changed its name to Liberty International in 1996.[3]

[edit] Operations

The company operated through its two principal subsidiaries, both of which are now independent companies listed on the London Stock Exchange: Capital Shopping Centres and Capital & Counties:[4]

The Capital Shopping Centres subsidiary (now Capital Shopping Centres Group plc) owns Braehead in Glasgow, Eldon Square in Newcastle upon Tyne, The Harlequin in Watford, the MetroCentre in Gateshead and a number of other UK shopping centres.

The Capital & Counties subsidiary (now Capital & Counties Properties plc) owns much of Covent Garden in London: it invests in both residential and commercial real estate in the UK.

An investment subsidiary based in California, Capital and Counties USA, operated as part of Liberty's Capital & Counties unit, but ownership of this was passed to Capital Shopping Centres Group after the demerger.

As at 31 December 2009 the Company's property portfolio was valued at £6.2bn.[1]

[edit] References

  1. ^ a b c d Preliminary Results 2009
  2. ^ Sir Donald Gordon - CV
  3. ^ a b c Liberty International: History
  4. ^ Liberty International: Businesses


Personal tools
Namespaces
Variants
Actions
Navigation
Interaction
Toolbox
Print/export
Languages