{"id":645034,"date":"2013-03-04T05:13:36","date_gmt":"2013-03-04T10:13:36","guid":{"rendered":"http:\/\/www.pehub.com\/?p=189050"},"modified":"2013-03-04T05:13:36","modified_gmt":"2013-03-04T10:13:36","slug":"reuters-cvc-in-early-stage-talks-on-mccarthy-stone-bid","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/645034","title":{"rendered":"Reuters – CVC in Early Stage Talks on McCarthy & Stone Bid"},"content":{"rendered":"

Private equity firm CVC<\/strong> is in talks on a bid for Britain’s largest retirement home builder McCarthy & Stone<\/strong>, writes Reuters<\/em>. The firm is expected to team up with Alan Bowkett, who resigned as McCarthy & Stone chairman last week, to try to buy the company, which is owned by a number of banks and hedge funds.<\/p>\n

Reuters<\/em> – Private equity firm CVC is in talks on a bid for Britain’s largest retirement home builder McCarthy & Stone, sources close to the proposed deal said on Sunday.<\/p>\n

The firm is expected to team up with Alan Bowkett, who resigned as McCarthy & Stone chairman last week, to try to buy the company, which is owned by a number of banks and hedge funds.<\/p>\n

Britain’s Sunday Times newspaper said the deal would be worth around 500 million pounds ($750.5 million).<\/p>\n

A source close to the proposed deal said the talks were still in the early stages, adding the deal would be on a standalone basis and not linked to Acromas, owner of over-50s insurance and holiday provider Saga, which is controlled by a CVC-led private equity consortium.<\/p>\n

McCarthy & Stone said it had appointed as chairman Jeremy Jensen, previously a non-executive director, who in 2011, with other landlords, led the break-up of care home provider Southern Cross. The firm declined to comment on the bid speculation.<\/p>\n

McCarthy & Stone was taken private in 2006 in a 1.1 billion pound deal by a consortium led by HBOS, now part of Lloyds Banking Group Plc.<\/p>\n

Chief Executive Mark Elliott drafted in investment bankers from Moelis to advise on the firm’s 500 million pound debt pile and explore options for the business when he was appointed in November.<\/p>\n

The post Reuters – CVC in Early Stage Talks on McCarthy & Stone Bid<\/a> appeared first on peHUB<\/a>.<\/p>\n

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<\/p>\n","protected":false},"excerpt":{"rendered":"

Private equity firm CVC is in talks on a bid for Britain’s largest retirement home builder McCarthy & Stone, writes Reuters. The firm is expected to team up with Alan Bowkett, who resigned as McCarthy & Stone chairman last week, to try to buy the company, which is owned by a number of banks and […]<\/p>\n","protected":false},"author":7428,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-645034","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/645034","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/7428"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=645034"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/645034\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=645034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=645034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=645034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}