MWB set to restructure and pay out £161m

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Office Freedom -

Written by Office Freedom

Marylebone Warwick Balfour has announced a capital restructure ahead of the group’s eventual winding up.

The proposal, part of an objective set out in 2002, is to return £161m to shareholders through the sale of assets over the course of the year.

It includes the creation of MWB Group holdings, which will actually be the new holding company of MWB.

MWB quoted that the new structure would provide greater flexibility on asset sales, and simplify the process of returning cash to the shareholders.

The companies’ assets and liabilities will not be altered by the proposal, which is subject to shareholder approval at an EGM on March 4th 2008.

MWB owns stakes in Liberty department stores, Malmaison and Hotel du Vin hotels and MWB Business Exchange.

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