Nicholas Candy eyes UK property group Capco

CGI of Capco’s Earls Court project in Central London

Further to some speculation over the weekend Capital & Counties Properties plc (“Capco“) announced this morning that a consortium led by Candy Ventures, an investment vehicle of Nicholas Candy, is in the early stages of considering a possible cash offer for the entire issued and to be issued share capital of Capco.

Earlier this year, Capco proposed to split its prime London estates of Covent Garden and Earls Court, then last month said that there was progress with parties interested in buying the Earls Court mega project.

UK-based Capital & Counties shares traded 9% higher this morning on the news reaching a market capitalisation of £2.1 billion.