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Abu Dhabi investment firm acquires UK developer
- United Arab Emirates: Sunday, January 27 - 2013 at 05:14
UAE-based alternative investment firm Abu Dhabi Capital Management (ADCM) has agreed to takeover UK-based luxury residential developer Northacre, Property Mall has reported. ADCM, through its special purpose Spadille corporation, has made a cash offer of 96 pence per Northacre share. The ADCM offer saw off competition from an internal management buy-out vehicle led by the Northcare's CEO, Ken MacRae. Northacre has designed, developed and marketed over £1.5bn of prime residential sites in London, the report said.
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