Minerva - Cash offer by Consortium

  • 29 June 2011
 

Slaughter and May is advising Minerva plc ('Minerva'), the London property developer, on a recommended cash offer by a consortium that values Minerva at approximately £202.6 million and implies an enterprise value of over £1 billion. The consortium consists of funds advised by AREA Property Partners (UK) Limited and a subsidiary of DV4 Limited, which is advised by Delancey Real Estate Asset Management Limited.

The offer was announced on 29 June 2011.

AREA is a global real estate private equity fund manager with over US$1 billion of equity under management. Delancey is a specialist real estate investment adviser and the exclusive adviser to DV4 Limited, a real estate investment fund with over £1 billion of equity capital.

Linklaters is advising AREA Property Partners (UK) Limited, and Jones Day is advising Delancey Real Estate Asset Management Limited.

 
 

Contacts

 

Stephen Cooke (partner), Hywel Davies (partner), Philip Bownes (associate), Charles Turnham (associate); Financing: Mark Dwyer (partner), Ian Hodgson (partner), Victoria Moore (associate); Pensions and Employment: Jonathan Fenn (partner)

 
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