logo
Share SHARE
FONT-SIZE Plus   Neg

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
The performance of Biotech stocks thus far this month is nothing to write home about, if we were to look at it from the standpoint of the movement of the NYSE Arca Biotechnology Index. A peek at what transpired on the FDA front in August and a preview of what September holds in store for us look pertinent. United Continental Holdings, Inc. on Monday appointed Scott Kirby as President of United Airlines with immediate effect. Kirby, an industry veteran aged 49, joins United from American Airlines Group Inc., where he was president since 2013, following the merger of American Airlines and US Airways. Meanwhile, American announced that Chief Operating Officer Robert Isom will become the President. Apple Inc. (AAPL) has scheduled its annual hardware event on Wednesday, September 7, when the tech giant is expected to unveil the most-awaited smartphone of the year-- iPhone 7. Apple has sent out invitation to the media and published the event on its website with a simple title "See you on the 7th." Although,...
comments powered by Disqus
Follow RTT