LONDON-Beleaguered hotel chain Le Meridien is to revalue its global portfolio. The move is thought to presage possible sell-off of properties in order to reduce the company's debt mountain.

LONDON-Chelsfield has confirmed it is in bid talks with a management team led by chairman Elliott Bernerd that could value the company at about pounds 850 million ($1.4 billion).

LONDON-Gazeley Properties, the European property arm of Wal-Mart, has completed a 290,000-sf distribution centre for its sister company, the supermarket chain Asda, in Falkirk, Scotland.

LONDON-Formula One motor racing tycoon Bernie Ecclestone has emerged as a major financial backer for the pounds 550 million ($880 million) Tchenguiz bid for the Selfridges department store chain.

LONDON-Formula One motor racing tycoon Bernie Ecclestone has emerged as a major financial backer for the pounds 550 million ($880 million) Tchenguiz bid for the Selfridges department store chain.

LONDON-Hammerson has sold an office investment at 53 quai d'Orsay in Paris to the German fund KanAm Grund Kapitalanlagegesellschaft for pounds 74 million ($120 million).

LONDON-Chesterton's chief executive and chief operating officer have been fired, joining a long list of top level casualties inflicted during the takeover battles for the company.

LONDON-Welcome Break, Britain's second-biggest motorway service station group, has appointed agents for the pounds 300 million ($483.8 million) sale-and-leaseback of half of its assets.