TIDMITV

RNS Number : 8583S

ITV PLC

08 November 2019

8 November 2019

ITV sells London Television Centre

ITV has today exchanged contracts for the sale of the London Television Centre on the South Bank to Mitsubishi Estate London Limited in an all-cash transaction for GBP145.6m. Completion is expected to occur by the end of November.

In 2014, ITV established a Pension Funding Partnership with the Trustees backed by The London Television Centre which resulted in the assets of Section A of the defined benefit pension scheme being increased by GBP50m. Part of proceeds of the sale of the South Bank site, net of tax and fees, will be used to replace the asset security, and the remaining sale proceeds used to reduce ITV's net debt.

ENDS

Investor Relations:

   Pippa Foulds                +44 (0) 7778 031 097 / +44 (0) 20 7157 6555 
   Faye Dipnarine            +44 (0) 20 7157 6581

Press:

   Paul Moore                  +44 (0) 7860 794 444 
   Laura Wootton            +44 (0) 20 7157 3056 / +44 (0) 7827 257 624

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

DISUWUVRKBAARAA

(END) Dow Jones Newswires

November 08, 2019 10:28 ET (15:28 GMT)

Itv (LSE:ITV)
Historical Stock Chart
From Mar 2024 to Apr 2024 Click Here for more Itv Charts.
Itv (LSE:ITV)
Historical Stock Chart
From Apr 2023 to Apr 2024 Click Here for more Itv Charts.