Property firms London & Stamford and Metric to merge

London & Stamford Property and Metric Property Investments this morning said they are in advanced talks to merge their businesses.

Under the terms of the tie-up, Metric shareholders would own 25 per cent and London & Stamford would own 75 per cent of the enlarged group.

Both companies said today that following the completion of the merger, there would be a “significant return of capital” to both sets of shareholders.

Chief executive of London & Stamford Patrick Vaughan would become executive chairman of the combined group, and current boss of Metric Andrew Jones would take the role of chief executive.