Barclays Capital is in advanced negotiations with Dutch pension fund PGGM to sell its majority stake in University Partnerships Programme, the UK's largest developer of university campuses, according to a news report in the Financial Times. The deal is expected to fetch close to £1bn (EUR 1.15 bn), representing one of the biggest corporate transactions of the year.
Barclays Capital is in advanced negotiations with Dutch pension fund PGGM to sell its majority stake in University Partnerships Programme, the UK's largest developer of university campuses, according to a news report in the Financial Times. The deal is expected to fetch close to £1bn (EUR 1.15 bn), representing one of the biggest corporate transactions of the year.
PGGM has reportedly entered into exclusive talks with UPP to buy the bulk of BarCap's 80% stake in the developer, which has a portfolio of 22,000 rooms and a rent roll of £81.5 mln.
The management of the student housing group would maintain their minority shareholdings in the business, the paper said.
