Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

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.

Click here to receive FREE breaking news email alerts for Quintain Estates and Development and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Stocks came under pressure in early trading on Friday and remained firmly in the red throughout the remainder of the trading session. With the losses on the day, the S&P 500 pulled back well off yesterday's record closing high. President Barack Obama is meeting with presidents from Central American nations on Friday as the U.S. struggles to deal with a surge of unaccompanied children across the southern border. Despite calls from some leading conservatives, the results of a new CNN/ORC International poll released Friday showed that a vast majority of Americans do not believe that President Barack Obama should be impeached and removed from office.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.