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Asset Value Investors offloads entire Balanced Commercial Property stake after takeover bid
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The firm confirmed on Wednesday (4 September) it had sold its 16,165,520 BCPT shares, representing around 2.3% of the trust's total share capital as at 3 September. BCPT's share price rallied more than 10.3% on Wednesday after the board agreed to an all-cash offer from a vehicle controlled by Starwood, which valued the FTSE 250 real estate investment trust at around £673.5m. Balanced Commercial Property trust agrees to £670m takeover offer by Starwood Under the terms of the deal, shareholders will receive 96p in cash for each BCPT share, which represents a premium of aro...
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