Hansteen Shares Suspended As GBP500 Million Takeover Edges Closer

(Alliance News) - Shares in real estate investment trust Hansteen Holdings PLC were suspended from trading on Wednesday as its delisting from the London Main Market is expected to take place on Friday.

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 said the court order will be delivered to the Registrar of Companies on Thursday, making the scheme effective. Then shares will delisted on Friday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.