LONDON (ShareCast) - Footsie has slipped into the blue as concerns about the China market slide is ignored with investors concentrating on a raft of deals in London.

Real estate firm Segro said it will sell its life sciences real estate business in the US, Slough Estates USA, to Health Care Property Investors for £1.5bn.

After the deduction of tax and various other costs, the net cash proceeds receivable will be approximately £574m, of which £250m will be returned to shareholders via special dividend and the remainder will be used to reduce debt.

Leisure group Whitbread has conditionally agreed to sell its David Lloyd Leisure business to London & Regional Holdings Limited and Bank of Scotland Corporate for £925m.

Royal Bank of Scotland is higher as newspaper rumours suggest it has put Southern Water up for sale for about £4bn.

Amongst the blue chip fallers, sugar manufacturer Tate & Lyle led the decliners, while Anglo American, which papers suggested will be approached by French firm Lafarge to sell its Tarmac division, was also down.

Project management firm AMEC said it has sold its Property Developments and Building and Civil Engineering units to Morgan Sindall.

Morgan Sindall will pay a £55m premium to aggregate net assets as at 30 April 2007, resulting in an expected total net cash consideration of around £26m, said AMEC in a company statement.

Electronic components manufacturer Acal said annual pre-tax profit rose 14% as demand for its electronics and IT solutions products increased. Pre-tax profit of ongoing activities rose to £9.8m in the year ended 31 March 2007 while sales for the year increased 1.55 to £260.9m.

Flooring and fabric specialist Low & Bonar said first half trading is in line with company expectations as it continues to grow from acquisitions.

Italian firm AutoGrill said it would launch a mandatory offer to buy the remaining shares in Alpha Airports after increasing its stake in the airport retailer and flight caterer to 42.7%.

Timber distribution firm James Latham said trading for the year to 31st March 2007 is ahead of market expectations.

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