|

Forth Ports Takeover Deal Sunk By Market Jitters



By Shaun Milne

FORTH Ports has fought off a planned take-over by a consortium hoping to snap up the Edinburgh based business which has backed out blaming “economic uncertainty” for their decision.

Northstream had hoped to capture Forth Ports assets which includes its facilities in Leith, Rosyth, Grangemouth, Burntisland, Methil and Dundee.

The consortium – made up of Arcus, RREEF, and Peel Holdings – had planned to add it to their current portfolio of harbours which includes Clydeport’s facilities in Manchester, Hunterston, Ardrossan and Greenock.

However directors at Forth Ports insisted Northstream’s valuation of their business at £640m – or £14 a share – was short of what they thought it was worth.

The company is seen as a particularly attractive investment for future yields because it owns 400 acres of land in Edinburgh’s popular waterfront area.

Short URL: http://www.deadlinenews.co.uk/?p=15578

Posted by on May 28 2010. Filed under 1, Business, Scottish News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Leave a Reply

*

Recently Commented

  • Malcolm Kyle: Health concerns regarding marijuana tend to come from a self-fueling group of discredited scientists...
  • sara james: Fish is the protein that’s feeds the majority of the people on the planet. Let’s educate the...
  • Mary Finelli: The countless animals who die in agony because of the fishing industry, both intentional victims and...
  • Cynthia McLaglen: I would have thought that Neil was Viking. After all there were no DNA tests a long time ago, and...
  • Cynthia McLaglen: I would have thought so. After all there were no DNA tests a long time ago and the Vikings, both...