Euronews is no longer accessible on Internet Explorer. This browser is not updated by Microsoft and does not support the last technical evolutions. We encourage you to use another browser, such as Edge, Safari, Google Chrome or Mozilla Firefox.

BREAKING NEWS

BREAKING NEWS

Grainger to buy Grip REIT for £396 million

Text size Aa Aa

(Reuters) - UK's Grainger Plc <GRI.L> said it would acquire Grip REIT plc for 396 million pounds to expand in the private-rented sector.

The residential landlord said the deal would be funded by a 346.7 million pounds rights issue.

Grainger also said its adjusted earnings rose 26 percent to 94 million pounds in the year ended Sept. 30.

(Reporting by Abinaya Vijayaraghavan in Bengaluru; Editing by Gopakumar Warrier)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.