Lone Star offer goes unconditional

Quintain Estates and Development have announced that the offer by Lone Star Capital to buy the company has gone unconditional.

The bid by Bailey Acquisitions Limited, an investment vehicle indirectly controlled by Lone Star Real Estate Fund IV, reached agreement on the terms of a recommended cash offer to be made for the entire issued and to be issued share capital of Quintain, the deceloper of Wembley Park.

The offer increased the cash available to 141 pence per Quintain Share. The offer had been accepted by around 75% of shareholders.

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