Acquisition

1 Feb 2006 12:44

Minerva PLC01 February 2006 For immediate release 1 February 2006 Minerva plc Conditional acquisition of 75-89 Lancaster Gate, London W2 Minerva plc, the FTSE 250 property company, announces today that in a jointventure with Northacre plc, they have exchanged conditional contracts for theacquisition of the share capital of Cambulo Lancaster Gate Development Limitedfor a cash consideration of up to £67.6 million and which is conditionallycontracted to acquire 75-89 Lancaster Gate, London. Commenting on today's announcement, Salmaan Hasan, Chief Executive of Minervaplc said: "75-89 Lancaster Gate will be acquired with vacant possession, presentingMinerva with an attractive residential development opportunity." This information is provided by RNS The company news service from the London Stock Exchange