Hong Kong billionaire eyes Shaftesbury acquisition
April 11, 2017
Real Estate Investment Trusts | London, UK | Secondary Transaction
Property magnate Samuel Tak Lee is reportedly eyeing a takeover bid for Shaftesbury (LON: SHB) after increasing his stake in the company to 20%. Lee had held a 13.25% stake in Shaftesbury through his company PEL since the end of November. The REIT's advisors, JP Morgan Cazenove and Liberum, are preparing for a formal offer from Lee, according to the Sunday Times.