Palmer Capital Investors’ acquisition of Invista REIM is nearly complete after the takeover bid was sanctioned in the first of three court meetings scheduled for this week.
The acquisition is expected to complete at a meeting this Thursday, when the court must confirm the capital reduction on Invista.
Invista announced that it had accepted a recommended offer from Palmer Capital on 27 June. The majority of shareholders voted in favour of the takeover on 20 July.
Palmer Capital’s £39.7m offer for Invista gazumped an earlier bid of £33.6m by Internos Real Investments in May.
sophia.furber@estatesgazette.com
