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Dubai's Limitless bids $471mn for Minerva

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Wednesday, 11 June 2008

Dubai government-owned developer Limitless has offered to buy UK real estate company Minerva for about $471 million, the Telegraph reported on Wednesday.

Limitless submitted a takeover proposal to the troubled real estate company at 140 pence - 150 pence a share, the newspaper said, citing unidentified sources.

Minerva said last month that it had not received a proposal from the Dubai World company and therefore had nothing to respond to.

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Minerva’s share price which was as high as 423 pence last June has since collapsed as investors have become worried about the company’s debt and the prospects for the UK commercial property industry, the Telegraph said.

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READER COMMENTS

  1. DM rules out extending 'one family' rule to flats 3
    20 Nov ' 08 at 10:11
    Complete support for the comments given by Nonsense.NO ONE wants to share their living space with others, if they have a choice.There...  More »
  2. Bank stops lending to expat staff of real estate firms 1
    20 Nov ' 08 at 07:30
    Today the Real Estate guys, tomorrow it could be any one of us. In reality no expat worker is really safe, even those in the banking...  More »
  3. The rent nightmare 1
    20 Nov ' 08 at 09:16
    I am sure that there are much better ways to ensure that expat tenants dont dissappear without paying rents. In most countries the...  More »
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