A joint venture between private equity firm Duke Street Capital and real estate manager Europa Capital has bought CI Traders, an AIM-listed property, retail and hospitality group, for £ 401 mln (EUR 592 mln). The two partners, through their Sandpiper investment vehicle, offered 100 pence per share for the company which incorporates a variety of hotels, bars and restaurants in addition to the retail business.
A joint venture between private equity firm Duke Street Capital and real estate manager Europa Capital has bought CI Traders, an AIM-listed property, retail and hospitality group, for £ 401 mln (EUR 592 mln). The two partners, through their Sandpiper investment vehicle, offered 100 pence per share for the company which incorporates a variety of hotels, bars and restaurants in addition to the retail business.
Duke Street Capital and Europa Capital are reportedly backing a management team which will be led by incoming ceo Tony O'Neill. Sandpiper, the Jersey-based venture company, was advised on the deal by DTZ.
