(Alliance News) - Shares in Hansteen Holdings PLC will be suspended from trading on Friday, the real estate investment trust said on Thursday, as its takeover by Potter UK Bidco Ltd has become effective.
A court scheme sanctioning the transaction was received by the Registrar of Companies, confirming the acquisition.
On Friday last week, Hansteen's said its takeover by Potter UK Bidco Ltd was approved near unanimously at a court meeting and general meeting.
Potter UK Bidco is indirectly owned by investment funds advised by Blackstone Group Inc affiliates. Blackstone is a US-based private equity firm and will pay 116.5 pence per share for industrial property portfolio manager Hansteen in a GBP500 million deal.
Hansteen's shares were suspended from trading with effect Wednesday.
By Eric Cunha; ericcunha@alliancenews.com
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