logo
Plus   Neg
Share
Email
Comment

Quintain Estates Confirms Talks With Palace Capital On Sale Of Quintain Signal

Quintain Estates & Development Plc. (QED.L) confirmed Monday that it is in detailed discussions with Palace Capital plc. (PCA.L) regarding the sale of Quintain Signal Member A Ltd, the owner of the SeQuel regional property portfolio.

Quintain said that the proposed disposal is in line with its strategy to exit non-core assets outside London and recycle capital.

The agreed purchase price is about 40 million pounds, broadly in line with the 31 March 2013 valuation. The transaction is conditional on Palace Capital raising the equity component of the consideration via a placing, with credit committee approval already received by them from a UK Lender for the debt component.

There can be no certainty the transaction will proceed as it is subject to Palace Capital plc raising the necessary equity and further updates will be provided as appropriate, Quintain Estates said.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Athletic footwear giant Nike, Inc. on Thursday announced a new marketing head, in its efforts to boost market share. The company promoted Dirk-Jan "DJ" van Hameren as its VP, Chief Marketing Officer, effective immediately. Van Hameren will succeed Greg Hoffman, who has been appointed VP, Global Brand Creative & Marketing Innovation Amazon.com Inc. (AMZN) said Thursday that it has chosen the 20 metropolitan areas to move to the next phase of the selection process for the company's second headquarters. The company plans to invest over $5 billion and grow the second headquarters to accommodate as many as 50,000 high-paying jobs. Morgan Stanley (MS) reported net income applicable to company of $686 million, or $0.29 per share for the fourth quarter ended December 31, 2017. The results for the current quarter included a net discrete tax provision of $990 million or a loss of $0.55 per share. Excluding net discrete tax items, net...
comments powered by Disqus
Follow RTT