* Far East Consortium International Ltd.'s FEC Overseas Investment (UK) Ltd. subsidiary signed an up to US$42.0 million agreement to buy and subsequently merge U.S. hospitality and gaming company, Trans World Corp., with its FEC Investment (US) Ltd. unit. The proposed merger will expand Far East Consortium and its subsidiaries' management portfolio by five hotels and three full-service casinos.
* Gazit-Globe Ltd. has further trimmed its stake in Regency Centers Corp. to roughly 8.2% of the latter's outstanding share capital and voting power, with the sale of 1.8 million common shares, or an approximately 1% interest, for about US$104 million.
UK
* Helical Plc redeemed £80.0 million of 6.0% retail bonds ahead of schedule on March 2 at a total redemption price of roughly £88.7 million. The bonds were set to mature June 24, 2020. However, an early redemption was launched by the company as part of its plan to lower debt and finance costs.
* Siemens agreed to a long-term deal for the lease of a 67-acre land in Goole, east Yorkshire, for the development of an up to £200 million factory to construct and commission trains for U.K. rail.
* Catalyst and Galliard Homes have partnered to deliver 600 homes, 18,000 square feet of commercial space and a new 11,000-seat stadium for AFC Wimbledon football club, as a part of the former Wimbledon dog track redevelopment in London, Construction Enquirer reported. The residential units are expected to be completed in early 2021, the report added.
* Lendlease Corp. Ltd. is moving ahead with the development of its 11.6-acre development in Deptford, The Timberyard, after receiving planning approval for the construction of 251 build-to-rent apartments across four buildings under the project's second phase, Property Week reported. The latest phase also includes 4,725-square-feet of retail and leisure space, along with other facilities.
* The London Borough of Tower Hamlets is set to go ahead with its £100 million plan to refurbish the Old Royal London Hospital into a new civic center, in a partnership with Bouygues, Construction Enquirer reported. The 330,000-square-foot redevelopment project also includes the construction of three new buildings at the site.
* A private Israeli investor paid €48.2 million to purchase a 148,000-square-foot office campus in Uxbridge, west London, with plans to transform the asset into 237 apartments under permitted development rights, Europe Real Estate reported. The buyer has also obtained a €47.7 million of loan facilities from Titlestone Structured Finance and Shawbrook Bank to fund the transactions and the redevelopment, the report added.
* InterContinental Hotels Group Plc unveiled its 2018-2020 business targets, with a focus on environmental sustainability and community impact, among other areas. The company has set 11 targets for the three-year period.
* U.K. Prime Minister Theresa May pledged to address the country's ongoing housing shortage by reforming planning laws to speed up homebuilding and lower prices, Reuters reported. Under the new measures, 300,000 homes are expected to be built every year, more than the 2017 number of about 217,000, according to the report.
Switzerland
* Swiss Prime Site AG's 2017 total operating income rose 10% year over year to CHF1.15 billion. The company's board plans to recommend a dividend of CHF3.80 per share, up 2.7% from the previous dividend of CHF3.70 per share.
Italy
* Prelios SpA Chairman and Nonexecutive director Giorgio Bruno resigned along with two other directors, Valeria Leone and Davide Mereghetti, effective March 2. The company appointed nonexecutive director Fabrizio Palenzona to replace Bruno as chairman and nominated director General Riccardo Serrini as an executive director.
Finland
* Hemsö Fastighets AB picked up three educational properties in central Helsinki occupied by the University of the Arts Helsinki for a total investment cost of 800 million Swedish kronor, including refurbishment costs. The buildings accommodate 2,000 students and 700 employees across 25,000 square meters of space.
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Anusha Iyer contributed to this report.
As of March 2, US$1 was equivalent to about 8.27 Swedish kronor.
