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Halladale, the property development company with offices in London, Glasgow and Edinburgh, is to be acquired by Stockland of Australia for £171m.
Halladale is planning to raise £13m in a share placing to fund the expansion of its property business.
Halladale has announced plans to build a new £10m facility for Japanese electronics firm OKI on a 64-acre site in Cumbernauld by August 2005.
Halladale is to raise £15m in a share placing with Moscow Narodny Bank, in order to fund the expansion of its Glasgow-based property development business.
Halladale has formed a joint venture company with Bank of Scotland to invest £35m in property schemes.