ALSTOM Sells a UK Real Estate Portfolio for 175 Million
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ALSTOM has sold a UK real estate portfolio to Key Property
Investments (KPI) - the joint venture between St Modwen
Properties PLC and Sahlia Real Estate k.s.c., for 175 million
euros (£111 million).
The portfolio sold comprises 19 properties providing
approximately 800,000 square metres of buildings on 600 acres
of land. The sites are in Rugby, Lincoln, Stafford,
Birmingham, Milton Keynes, Eastleigh, Manchester, Preston and
ALSTOM has taken fixed-term leases on most of the
This is the first major property disposal to be completed by
ALSTOM as part of its Restore Value plan. Real estate sales in
other countries are progressing well. The Restore Value plan
was launched last March and is on target to meet its key
objectives of strengthening the companys balance sheet
and reducing its debt.
ALSTOM is the global specialist in energy and transport
infrastructure. The Company serves the energy market through
its activities in the fields of power generation and power
transmission and distribution, and the transport market through
its activities in rail and marine. In fiscal year 2001/02,
ALSTOM had annual sales in excess of 23 billion and
employed 112,000 people in over 70 countries. ALSTOM is listed
on the Paris, London and New York stock exchanges.
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