Sunday, November 27News That Matters
Shadow

Tag: &#1632.5bn

Tycoon Hands plots £2.5bn takeover of Quintain

Tycoon Hands plots £2.5bn takeover of Quintain

Business
Guy Hands, the private equity tycoon, is exploring a £2.5bn bid for Quintain, the London-based property group, in an effort to establish an £8bn UK-wide real estate empire. Sky News has learnt that Mr Hands' buyout firm, Terra Firma Capital Partners, is examining an offer for Quintain‎ through Annington, the giant residential property group it has controlled since 2012.Initial bids are due for Quintain, which is owned by Lone Star Funds, another private equity firm, early next month, and City sources expect a deluge of interest in it.The company has planning permission ‎for thousands of rental homes in the area around Wembley Stadium, with the development scheduled to be completed by 2024.Buying Quintain would give Mr Hands a natural merger partner f...
WeWork rival IWG attracts £2.5bn bid interest

WeWork rival IWG attracts £2.5bn bid interest

Business
At least one mystery bidder is circling the serviced office giant previously known as Regus in the wake of an autumn profit warning which sent its shares crashing.Sky News has learnt that International Workplace Group (IWG) has been sounded out about a potential takeover in the last two months valuing the company at about £2.5bn.The identity of the prospective bidder was unclear this weekend, with analysts speculating that the likes of Blackstone and Brookfield - both of which have extensive track records as investors in real estate-backed companies - could be interested.It was also unclear whether bid talks were still active, although City sources said a takeover approach had been informally pitched at about 270p-a-share, a 35% premium to Friday's closing price.Mark Dixon, IWG's founder a...