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Land Securities snaps up Trillium

UK property giant Land Securities has agreed to buy property outsourcer Trillium for £165m.

Land Securities will also pay 680,000 in shares subject to due diligence in a deal welcomed by city analysts who say it demonstrates its commitment to progress as a full service provider.

The move comes following Land Securities&#39 promise this year to revamp the management of their portfolio due to shareholders&#39 unrest at its poor performance.

Land Securities chief executive Ian Henderson says: “The acquisition of Trillium continues the progress made to date of restructuring our business to take advantage of the new opportunities in today&#39s property industry.”

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