Liberty International
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| Type | Public (LSE: LII) |
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| Founded | 1980 |
| Headquarters | London, England, UK |
| Key people | Patrick Burgess, (Chairman) David Fischel (CEO) |
| Industry | property |
| Products | shopping centres, commercial & residential property |
| Revenue | £618.2 million (2008) |
| Operating income | £(1,776.2) million (2008) |
| Net income | £(2,451.3) million (2008) |
| Website | www.liberty-international.co.uk |
Liberty International (LSE: LII) is British property investment company. Formerly a plc, it switched to Real Estate Investment Trust status when REITs were introduced in the United Kingdom in January 2007. It is a constituent of the FTSE 100 Index.
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[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.[1] The Company developed into a leading investor in life assurance businesses in the 1980's only divested its remaining life assurance interests (a 29% holding in Sun Life) in 1991.[2] In 1992 it merged with Capital & Counties, a leading shopping centre developer, so securing itself a listing on the London Stock Exchange.[2] It changed its name to Liberty International in 1996.[2]
[edit] Operations
The company operates through its two principal subsidiaries: Capital Shopping Centres and Capital & Counties:[3]
The Capital Shopping Centres subsidiary 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 owns much of Covent Garden in London: it invests in both residential and commercial real estate in the UK and also in California where it operates as Capital and Counties Inc.
As at 31 December 2008 the Company's property portfolio was valued at £7.1bn.[4]
[edit] References
- ^ Sir Donald Gordon - CV
- ^ a b c Liberty International: History
- ^ Liberty International: Businesses
- ^ Liberty International Preliminary results 2008
[edit] External links
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