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British Land (BLND)

OLTB
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British Land (BLND)

#265380

Postby OLTB » November 19th, 2019, 11:08 am

Morning all

I was listening to the Investors Chronicle podcast on the way home last night and heard Phil Oakley talking about British Land and its potential prospects.

I wasn't aware that the Norwegian Sovereign Wealth (NSW) fund had such a high shareholding in BLND (I think they said about 25%) - the podcast explained that having such a relatively cheap, high yielding investment such as BLND could be very useful for NSW.

The loan to value is relatively low at about 30% and NAV is discounted by 34% owing to retail exposure.

There was a suggestion that because of the above characteristics, BLND could be a serious contender for being bought out by NSW once the Brexit and election uncertainty were over.

I hold in my SIPP.

Cheers, OLTB.

dealtn
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Re: British Land (BLND)

#265390

Postby dealtn » November 19th, 2019, 11:28 am

That doesn't sound right to me. Looking at the shareholders list Norges Bank Investment Management (who manage the NSWF) own just over 5% of the company, the largest shareholder, but well short of 25% and unlikely to be in a position to launch a takeover, in my opinion.

OLTB
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Re: British Land (BLND)

#265393

Postby OLTB » November 19th, 2019, 11:30 am

dealtn wrote:That doesn't sound right to me. Looking at the shareholders list Norges Bank Investment Management (who manage the NSWF) own just over 5% of the company, the largest shareholder, but well short of 25% and unlikely to be in a position to launch a takeover, in my opinion.


That's me mis-hearing the podcast whilst driving then :oops:

Apologies, OLTB.

torata
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Re: British Land (BLND)

#265639

Postby torata » November 20th, 2019, 5:14 am

OLTB wrote:There was a suggestion that because of the above characteristics, BLND could be a serious contender for being bought out by NSW once the Brexit and election uncertainty were over.


I'm not an expert but somehow I doubt that. IIRC, NSW don't seek seats on boards as a policy (to avoid charges of political interference?). I imagine they'll stick to a rentier model rather than Berkshire Hathaway-style acquisition.

torata

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Re: British Land (BLND)

#265651

Postby Spet0789 » November 20th, 2019, 7:23 am

Norges investment management (who manage the fund) basically operate it as a huge tracker fund with some tilts (ESG and no Oils). You can’t infer anything from the size of a given holding as they’ll hold the same % in other similar companies. They certainly won’t be taking any of their public equity holdings private often, if ever.


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