Completion of sale and leaseback of UBB
Updated : 16:56
Ted Baker Plc ("Ted Baker" the "Company" or the "Group")
Completion of sale and leaseback of UBB
Ted Baker, the global British lifestyle brand, is pleased to confirm the completion of the sale of The Ugly Brown Building (the "UBB") to a wholly owned subsidiary of British Airways Pension Trustees Limited, for a cash consideration of £78.75 million. The net proceeds of at least £72.0 million (post tax) will be used to reduce the Group's indebtedness to the Group's lenders.
The proposed sale and leaseback of UBB was first announced on 23rd March 2020 and subsequently approved by shareholders at the general meeting held on 18th June 2020.
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For further information contact:
Ted Baker |
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Peter Hearsey-Zoubie, Company Secretary |
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Tulchan Communications |
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Michelle Clarke/Jessica Reid |
Tel: +44 (0) 20 7353 4200
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