By Adria Calatayud

BT Group PLC (BT.A.LN) said Monday that it has sold its London headquarters to Orion European Real Estate Fund V, a fund managed by Orion Capital Managers, for 209.6 million pounds ($260.9 million).

The U.K. telecommunications company said the deal includes an initial leaseback agreement of 30 months, during which time BT plans to move its headquarters to a new London location.

BT had previously said it intended to sell its headquarters as part of its transformation program.

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

(END) Dow Jones Newswires

July 17, 2019 04:22 ET (08:22 GMT)

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