First Pacific intends to Sell Stake in U.K. Property Firm

First Pacific Co. (0142) plans to sell its entire 19.8% stake in U.K. property company with aim to concentrate its resources to develop its Asian businesses, citing Savills plc, a spokesman for the company. The disposal plan is still at a preliminary stage, and the timing and the consideration remain undecided. London-listed Savills registered a pre-tax profit of 17.4mln pounds in 2000.

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