Morning all
I was listening to the Investors Chronicle podcast on the way home last night and heard Phil Oakley talking about British Land and its potential prospects.
I wasn't aware that the Norwegian Sovereign Wealth (NSW) fund had such a high shareholding in BLND (I think they said about 25%) - the podcast explained that having such a relatively cheap, high yielding investment such as BLND could be very useful for NSW.
The loan to value is relatively low at about 30% and NAV is discounted by 34% owing to retail exposure.
There was a suggestion that because of the above characteristics, BLND could be a serious contender for being bought out by NSW once the Brexit and election uncertainty were over.
I hold in my SIPP.
Cheers, OLTB.
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British Land (BLND)
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- Lemon Quarter
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- Lemon Half
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Re: British Land (BLND)
That doesn't sound right to me. Looking at the shareholders list Norges Bank Investment Management (who manage the NSWF) own just over 5% of the company, the largest shareholder, but well short of 25% and unlikely to be in a position to launch a takeover, in my opinion.
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Re: British Land (BLND)
dealtn wrote:That doesn't sound right to me. Looking at the shareholders list Norges Bank Investment Management (who manage the NSWF) own just over 5% of the company, the largest shareholder, but well short of 25% and unlikely to be in a position to launch a takeover, in my opinion.
That's me mis-hearing the podcast whilst driving then
Apologies, OLTB.
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- Lemon Slice
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Re: British Land (BLND)
OLTB wrote:There was a suggestion that because of the above characteristics, BLND could be a serious contender for being bought out by NSW once the Brexit and election uncertainty were over.
I'm not an expert but somehow I doubt that. IIRC, NSW don't seek seats on boards as a policy (to avoid charges of political interference?). I imagine they'll stick to a rentier model rather than Berkshire Hathaway-style acquisition.
torata
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Re: British Land (BLND)
Norges investment management (who manage the fund) basically operate it as a huge tracker fund with some tilts (ESG and no Oils). You can’t infer anything from the size of a given holding as they’ll hold the same % in other similar companies. They certainly won’t be taking any of their public equity holdings private often, if ever.
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