To takeover or not to takeover?

Article Abstract:

Clarke Nickolls & Coombs' (CNC) 9 million pounds sterling bid for Brightstone Properties is the first hostile bid in the UK property industry since 1989. Richard Upton, who bought a 29% stake in CNC in Jan. 1996, says that critical mass is vital to CNC, and CNC must grow. However, Brightstone has put forward a restructuring plan of its own: Brightstone has found three investors willing to invest up to 3 million pounds sterling, and proposes selling the property portfolio and using the shell company as a vehicle in which to reverse a non-property firm.

Clarke, Nickolls and Coombs PLC, Brightstone Properties

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Good fortunes on the rise

Article Abstract:

Highlights of UK property developments financing for 1996 are listed on a month-by-month basis. US fund manager PRICOA and UK industrial estates group IO Group launched a scheme to raise 150 million pounds sterling from institutions to fund projects in the secondary industrial sector in May 1996. UK property company Chesterfield Properties PLC acquired Albion Property for 20 million pounds sterling in Nov. 1996.

Open-End Investment Funds, Investment Funds & Trusts, HOLDING AND OTHER INVESTMENT OFFICES, Real estate investment, Real estate investments, Calendar, Chesterfield Properties PLC

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