(Correcting name of company evaluating bid for Yew Grove to Quanta Capital.)
Yew Grove REIT PLC - invests in Irish office and industrial properties outside Dublin's central business district - Quanta Capital Asset Management Ltd confirms it is evaluating, with investment manager Davy, recommending that investment vehicle Goldstein Property ICAV make a competing offer for Yew Grove. Goldstein Property ICAV has a 4.2% stake in Yew Grove, which last week accepted a EUR127.8 million cash takeover offer from Slate Office Ireland Investment Ltd, an indirect subsidiary of Slate Office REIT. Slate offered EUR1.017 per share, plus the 1.20 cents dividend declared by Yew Grove for the third quarter. Quanta says there is no certainty a competing offer will be made.
Current Yew Grove stock price: EUR1.03, up 3.0% on Tuesday
Year-to-date change: up 24%
By Tom Waite; thomaslwaite@alliancenews.com
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