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

Editors Pick
With a substantial decrease in energy prices more than offsetting higher prices for food and shelter, the Labor Department released a report on Wednesday showing an unexpected drop in U.S. consumer prices in the month of August. After ending the previous session notably higher, stocks may show a lack of direction in early trading on Wednesday. The major index futures are currently pointing to a roughly flat open for the markets, with the Dow futures down by just 2 points. Policymakers of the Bank of England split on the rate decision in September as two members repeated their call for a quarter- point hike given the rapid absorption of slack with economic growth. The British unemployment rate continued to fall in July, reaching the lowest since late 2008, and jobless claims declined more than expected in August.
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.