Estate agency Countrywide has yet to complete its £38m sale of Lambert Smith Hampton a month after telling shareholders that it was working “urgently” to sign off the delayed deal.
A spokesman for the listed company said there was “no further update” on the timing of the transaction, which had been expected to complete shortly after shareholders gave their approval in December.
Countrywide announced on 7 February that it had been unable to secure the payment necessary to close the deal due to buyer John Bengt Moeller “being indisposed during January and due to logistical difficulties relating to the transfer of the requisite completion monies”.
At the time, the company added: “We have been reassured by Mr Moeller that completion is imminent. The company continues to work with Mr Moeller to resolve this situation urgently and is taking all necessary steps to achieve completion as soon as possible. The company will update shareholders as appropriate in due course.”
No further update has been made to the market since. Moeller had not responded to a request for comment by the time of publication.
Countrywide is separately engaged in merger discussions with LSL Property Services, which the companies are due to update the market on by 23 March.
Countrywide’s shares have lost 14.5% of their value so far this year, closing on Friday at 295p.
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