Shaftesbury Capital in talks with NBIM over Covent Garden

Shaftesbury Capital PLC [JSE:SHCE] has acknowledged market speculation and confirmed it is in advanced discussions with Norges Bank Investment Management (NBIM) regarding a potential long-term partnership involving its Covent Garden portfolio, independently valued at £2.7 billion as of December 31, 2024. The proposed transaction could result in NBIM acquiring a 25% shareholding in the Covent Garden portfolio at the December 2024 valuation, with Shaftesbury Capital retaining control and management. The company noted that the transaction would position the company strongly to pursue further long-term value creation and growth opportunities across its portfolio. There is no certainty that any transaction will be agreed, and further announcements will be made as appropriate. Shaftesbury Capital is a leading central London mixed-use REIT with a property portfolio valued at £5.0 billion as of December 31, 2024.