GE offloads property stake for £74m

GE Asset Management has sold a 13.6% holding in property investor London & Stamford Property for around £74m.

The asset manager, acting as investment manager of the General Electric Pension Trust, undertook a bookbuilding process to offload the shares, upping the number of shares following strong demand.

London & Stamford Property owns a number of residential and commercial properties around London, including more than 140 apartments at the former Arsenal stadium in Highbury.

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