PRESS RELEASE: Sale of Basinghall Finance PLC (or the assets thereof)
DGAP-News: Erste Abwicklungsanstalt / Key word(s): Investment/Disposal Sale of Basinghall Finance PLC (or the assets thereof)
29.01.2014 / 09:10
=--------------------------------------------------------------------
Sale of Basinghall Finance PLC (or the assets thereof)
Notice for Expressions of Interest
Basinghall Finance PLC ('Basinghall') is a UK mortgage lender and servicer that is 100% owned by Erste Abwicklungsanstalt ('EAA') and is authorised and regulated by the Financial Conduct Authority. As the sole shareholder, EAA seeks to dispose of all of its interests in Basinghall, either by way of disposal of all shares in Basinghall or by disposal of the assets held by Basinghall (the 'Proposed Transaction'). Basinghall's assets consist principally of mortgage loans to borrowers in the UK with first-ranking security over residential property in England and Wales.
Cohen & Company Financial Limited ('CCFL') has been exclusively mandated to advise EAA on the Proposed Transaction. Any interested party wishing to submit an indication of interest must register their interest with CCFL via the contact information stated below.
EAA reserves the right to restrict the number of parties invited to participate in the sale process. In doing so, EAA will assess the expressions of interest based on whether the interested party (1) is able to ensure secure financing for the Proposed Transaction, (2) confirms that it is seriously interested and capable to conclude the Proposed Transaction by Q2 2014 and (3) is reasonably capable of receiving all approvals as may be required by the relevant competition, regulatory and other authorities required for the Proposed Transaction. Interested parties are requested to include, with their indication of interest, confirmation that they can satisfy these criteria and the basis on which they believe they can satisfy criteria (1) and (3).
Following the registration of interest, interested parties who are invited to participate in the sale process will be required to sign a customary non-disclosure / confidentiality agreement. They will then be invited to take part in the further process and will receive further information regarding Basinghall and the sale process subject to the executed non-disclosure / confidentiality agreement. CCFL and EAA intend to make information regarding Basinghall available to those parties from and including 6th February 2014.
EAA reserves the right to alter the timing of the process, to amend the terms of the process or to discontinue the sale process, provided that EAA will at all times act in a way consistent with the principles of an open, transparent and non-discriminatory bidding process.
Go here to read the rest:
PRESS RELEASE: Sale of Basinghall Finance PLC (or the assets thereof)