By editorial@silicon.com, 23 November 1998 12:34
NEWS Talks between ICL and Nomura have been called off because neither party could agree on a price for the IT services company's property assets worth £1bn. Several Nomura mortgage finance executives left its property finance subsidiary, Capital Company of America, after it announced a half-yearly loss in September of $275m. A Nomura spokesman denied the loss had any effect on the early abandonment of the ICL deal. ICL, the IT systems and services company, is still looking for a buyer and manager for its leasehold and freehold assets. Risk will be transferred to the chosen company who will also be responsible for facilities management and maintenance. According to director of commercial operations, Richard Reed, ICL is not a property company but it will be re-assessing its property portfolio.
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