Ted Baker PLC

Completion of sale and leaseback of UBB

RNS Number : 5982R
Ted Baker PLC
30 June 2020
 

Ted Baker Plc ("Ted Baker" the "Company" or the "Group")

Completion of sale and leaseback of UBB

 

Ted Baker, the global British lifestyle brand, is pleased to confirm the completion of the sale of The Ugly Brown Building (the "UBB") to a wholly owned subsidiary of British Airways Pension Trustees Limited, for a cash consideration of £78.75 million. The net proceeds of at least £72.0 million (post tax) will be used to reduce the Group's indebtedness to the Group's lenders.

The proposed sale and leaseback of UBB was first announced on 23rd March 2020 and subsequently approved by shareholders at the general meeting held on 18th June 2020.

 

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For further information contact:

  Ted Baker

 

Peter Hearsey-Zoubie, Company Secretary

 

 

 

Tulchan Communications

 

Michelle Clarke/Jessica Reid


Tel: +44 (0) 20 7353 4200

 


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