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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Westbury Inc | LSE:WPFI | London | Ordinary Share | GB0031367971 | INC SHS 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 104.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6639T Westbury Property Fund Limited 26 March 2007 26 March 2007 For immediate release The Westbury Property Fund Limited ("Westbury") Acquisition Westbury announces that Westlink Holdings Limited and Westlink Group Limited (together "Westlink"), its wholly owned subsidiaries, have acquired AHC Warehousing Limited and associated companies ("AHC") together with 100 acres of land and buildings from which AHC operates for #33.5 million. The acquisition of AHC, an established and profitable warehousing and distribution business based in Widnes, and the land from which it operates is key to Westlink's growth strategy and provides a number of operational synergies and property development opportunities. Westlink owns and operates the Port of Weston in Runcorn, a site which benefits from road, rail, deep sea and inland waterway access which is being re-generated into an inter-modal port facility. The Port of Weston is just over a mile away from AHC and it is planned to combine the management activities of both sites to complement the existing and proposed Port of Weston customer offering. Westlink acquired AHC from James Quinn and other individuals and related trusts for #12.5 million and purchased the underlying land and buildings from Drawbridge (Ditton) Limited for a total of #21.4 million. The site acquired amounts to some 100 acres of land and buildings and benefits from a rail head from which Westlink's rail freight business, Victa Westlink Rail, will look to expand its operations. In the year to 31 March 2006 AHC achieved a loss before tax of approximately #19,000 and at that date had gross assets of #14.4 million. AHC's clients include several blue chip companies with long-established relationships with the company. Richard Burrell, Chief Executive of Assura Group Limited, Westbury's Investment Manager, commented: "This strategic acquisition is a significant step in the growth and development of Westlink into an inter-modal transport and infrastructure business and the acquisition is a further example of Westbury shifting its focus from directly owned commercial property into asset-backed operating businesses." For further information please contact: Richard Burrell/Ben Browne-Clayton 01244 893 680 / 020 7107 3839 Assura Fund Management LLP This information is provided by RNS The company news service from the London Stock Exchange END ACQEAFDLASNXEFE
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