Shaftesbury stakebuilding by Samuel Tak Lee prompts takeover speculation
Samuel Tak Lee, a Hong Kong-based billionaire, has been amassing a position in the UK-listed property group Shaftesbury, fuelling speculation of a takeover bid, The Sunday Times reported.
Shaftesbury confirmed on 20 October that Lee’s stake had crossed the 5% threshold.
The item reported speculation that Lee might table a bid for Shaftesbury or seek to acquire the central London-focused company’s Chinatown properties. Lee already holds the nearby Langham Estate and is considered by Shaftesbury to be a “neighbour” who can see its portfolio’s value, the report noted.
Lee is believed to have proceeded with the stakebuilding on the advice of Langham Estate chief executive Ahsan Ellahi, the item reported. It said Ellahi did not wish to comment on the matter last week.
The report said Invesco Perpetual also recently upped its holding in Shaftesbury, crossing the 11% threshold in September, as confirmed by the property company on 20 October.
The sovereign wealth fund of Norway owns a stake of slightly more than 9% in Shaftesbury, the report said.
Source Sunday Times