Minerva has accepted a takeover bid by a group of funds valuing the company at £200 million, Financial Times reports. The London property developer backed the bid from a consortium, comprising funds advised by AREA Property Partners and a unit of DV4.
The offer was made through a special-purpose vehicle Jupiter Properties. Greenhill & Company is advising Minerva, while Delancy Real Estate Asset Management is advising DV4. Minerva also received bids from private equity groups, including Goldman Sachs’ Whitehall funds and Apollo.
