UK-based luxury brand Liberty PLC on Friday said that it has been approached for takeover by interested parties. However, it's too early for the company's board to say anything about whether the approaches would transform into formal bids or not, Liberty added.

The company had hired a group of advisors before eight months for a strategic review of its businesses.

UK's third-biggest property group, Liberty International has announced plans to split into two separate companies to have a more focused approach toward its business.

The company will split into two subsidiaries namely, Capital Shopping Centres and Capital & Counties who will manage separate parts of the £6.2 billion portfolio of Liberty. Capital Shopping Centres will be a real estate investment trust which will manage 13 shopping centres worth £4.6 billion while Capital & Counties will be a property company.

Liberty International, the numero uno mall owner in Britain, plans to split into two to drive stakeholders' wealth in a better and stronger way. Currently the realtor's portfolio stands at 6.2 billion pounds ($9.3 billion).

The company currently intends to demerge its existing business into two, with one of the new units, Capital Shopping Centres, looking after the shopping centers in the UK and the other one, Capital & Counties, concentrating on commercial properties in Central London. Liberty owns shopping malls across the country.