10 August 2008

WOOLWORTHS EYED BY PROPERTY TYCOON

Shares in the troubled UK retailer Woolworths are being bought heavily by Aredeshir Naghsineh leading to speculation that the Iranian-born property tycoon will mount a full scale bid for the company.

Through his property company Targetfollow Property Holdings Naghsineh has been rapidly increasing his stake in Woolworths since the end of June. On the 1st July 2008 it was revealed that Naghsineh had an interest in the company of 3%, on Friday that holding had jumped to over 10%.

Read the rest of this article at money.co.uk

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4 comments:

Anonymous said...

One little problem AJB - WLW do not own any freeholds

Anonymous said...

So what are the £290m of fixed assets plant and other on the balance sheet?

Anonymous said...

mostly fixtures and fittings

Anthony J. Bounds said...

Hello there - Comment dated 8:08

You make a good point that Woolworths Group own more leasehold property than they do freehold, but the company do own freehold property. According to the last reported accounts Woolworths purchased freehold property at a cost of £5.1 million

All the best AJB



Anonymous Comment 2 dated 8:30

I guess you are replying to the comment made at 8:08