Hong Kong’s retail operator buys stake in Landsec

Hong Kong's retail operator buys stake in Landsec

Lifestyle International Holdings, a Hong Kong-based retail operator that specializes in the operation of mid to upper-end department stores in Hong Kong, announced it has acquired a total of 5,671,554 Landsec shares for £50,126,000 (equivalent to approximately HK$508,326,000).

Listed on the London Stock Exchange market, Landsec is a real estate investment trust and all of its assets and operations are in the United Kingdom.

”The equity investment in Landsec was to enable the Group to participate in the retail and commercial property market in the United Kingdom without having the need to own such physical properties,” said the company in the statement.”The Acquisitions will be held by the Group for long-term investment purpose with an aim to enhancing the returns on cash for the Group in the long run.”