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ITV sells London Television Centre

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RNS Number : 8583S
ITV PLC
08 November 2019
 

8 November 2019

 

ITV sells London Television Centre

 

ITV has today exchanged contracts for the sale of the London Television Centre on the South Bank to Mitsubishi Estate London Limited in an all-cash transaction for £145.6m. Completion is expected to occur by the end of November.

 

In 2014, ITV established a Pension Funding Partnership with the Trustees backed by The London Television Centre which resulted in the assets of Section A of the defined benefit pension scheme being increased by £50m. Part of proceeds of the sale of the South Bank site, net of tax and fees, will be used to replace the asset security, and the remaining sale proceeds used to reduce ITV's net debt.

 

 

ENDS

 

Investor Relations:

Pippa Foulds                +44 (0) 7778 031 097 / +44 (0) 20 7157 6555

Faye Dipnarine            +44 (0) 20 7157 6581

 

Press:

Paul Moore                  +44 (0) 7860 794 444

Laura Wootton            +44 (0) 20 7157 3056 / +44 (0) 7827 257 624

 

 

 

 

 

 

 


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