Sale of storage firm to net £10 million for Soros

BILLIONAIRE investor and philanthropist George Soros stood to land stg£10 million yesterday from his stake in self-storage firm Safestore, which is being taken over in a management buyout.

The deal will see Safestore directors led by chief executive Stephen Williams take the firm private with backing from private equity firm Bridgepoint.

Besides Mr Soros, whose Real Estate Investors fund owns 25% of Safestore, a clutch of other directors and individual shareholders stand to gain millions from the sale.