Packer Bids for Extra Motorway Services
Published April 28th, 2008
James Packer, the son of the late billionaire media mogul Kerry, and the Australian investment bank Macquarie are front-runners in the £400m chase for Extra, the UK’s fourth-biggest motorways services chain.
Extra, which is owned by developer Swayfields, is being advised by Bank of America and bids for one of the biggest property disposals so far this year in the UK are due on 9 May.
Swayfields chairman Robert Wade confirmed the auction on Friday. He said: “The attraction of this portfolio is the rent-driven business model with high-quality tenants and long-term secure income streams.” Mr Wade added that the Lincoln-based firm is in discussions with a “targeted small number of potential buyers”.
Related Articles
