Freeport, a UK developer and operator of retail outlet shopping centres in Europe, has ended discussions with all potential suitors, including Carlyle Real Estate Advisors UK. Explaining the decision to terminate the preliminary takeover talks, the company said in a statement last Thursday that it was concerned about the length of time the process was taking. ‘Consequently, the board has today terminated all offer discussions, as it is has become clear that any proposal to be forthcoming will not be in the best interests of the company and its shareholders.'
Freeport, a UK developer and operator of retail outlet shopping centres in Europe, has ended discussions with all potential suitors, including Carlyle Real Estate Advisors UK. Explaining the decision to terminate the preliminary takeover talks, the company said in a statement last Thursday that it was concerned about the length of time the process was taking. ‘Consequently, the board has today terminated all offer discussions, as it is has become clear that any proposal to be forthcoming will not be in the best interests of the company and its shareholders.'
The issue of a possible merger arose last December when Laxey Partners, which holds a 29% stake in Freeport, said it was willing to sell its shares if Carlyle made a offer.
Freeport's main activity is operating and developing outlet shopping and centres in Europe. Its main assets in continental Europe are in Lisbon, eastern France, the Czech Republic and Sweden.
