AIM-listed property investment company London & Stamford (L&S) said on Thursday that it has signed a new £ 200mln (EUR 251mln) joint venture agreement with Cavendish, a wholly-owned subsidiary of a Gulf sovereign wealth investor. Under the new agreement, Cavendish will provide co-investment funds of an initial £ 200mln to invest on UK property. L&S is retaining the right to act wholly and solely on its own account on individual deals of up to £ 30mln. The company will share the investment in any larger deals with Cavendish, which will hold a 80% stake in same.
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