Metro Group raises stake in UK’s Fairbriar Real Estate to 50%
It acquired 25% additional stake for $31m.
SGX-listed Metro Group acquired an additional 25% stake in United Kingdom-based Fairbriar Real Estate Limited for $31m (£18.0m).
With the acquisition, Metro’s stake in Fairbriar rose from 25% to 50%.
Metro funded the acquisition through internal cash resources and bank borrowings.
Fairbriar is the owner and developer of Middlewood Locks mixed-use development in Manchester. The development will provide 2,215 new homes and one million square feet of commercial space.