US group pays pounds 44m for Abacus
THE US-based Security Capital Group (SCG) has underlined its expansionist plans in Europe with the pounds 43.7m takeover of Abacus Self Storage in Britain. The deal was executed by Acorn Storage Centres in which SCG has a controlling stake.
Acorn and Abacus plan to merge their 32 UK self storage centres and four bases in France. This is Acorn's first deal since it was bought by SCG subsidiary, Security Capital Global Realty (SC-GR), in June.
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies