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HTS in property deal

23rd February 1973, Page 19
23rd February 1973
Page 19
Page 19, 23rd February 1973 — HTS in property deal
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• The board of Ralph Hilton Transport Services Ltd (HTS) announces that agreement has been reached for the formation of a joint company 40 per cent of which will be owned by HTS, and 60 per cent by Ardenlea Securities Ltd in which Central Real Properties Ltd (which will manage the joint company) and First National Finance Corporation Ltd will each have an equity stake.

The joint company, it is stated, has contracted to purchase 10 surplus HTS properties for the sum of £1.935m in cash, which will be advanced to the joint company by FNFC. The joint company will acquire the properties for further development.

The board of HTS states that the report and accounts for the group for the period to July 29 1972 are to be published shortly.