Barclays sells UPP Group stake to China's Gingko - report.
M2 EQUITYBITES-January 25, 2013-Barclays sells UPP Group stake to China's Gingko - report(C)2013 M2 COMMUNICATIONS http://www.m2.com
25 January 2013 - Funds of UK lender Barclays Plc (LON:BARC) have sold their 40% interest in domestic UPP Group Holdings Ltd to Chinese Gingko Tree Investment Ltd, thus exiting the student-housing operator, Bloomberg reported Friday, quoting a person in the know.
The source did not wish to be named and did not provide details on the deal as it was being kept private, Bloomberg said. Spokesmen for Barclays and UPP, as well as a Gingko Tree investment manager, would not comment on the information, when reached by the agency.
The selling funds are owned by Barclays Infrastructure Funds Management Ltd, a private equity unit of the UK banking group.
The Barclays funds had shed a 60% interest in UPP to Netherlands-based PGGM NV in September. That transaction valued the target at some GBP1.4bn (USD2.2bn/EUR1.6bn), including debt, Bloomberg notes.
Barclays and Gingko Tree had been in exclusive discussions since September, two people familiar with the situation had told the agency at the time.
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|Publication:||M2 EquityBites (EQB)|
|Date:||Jan 25, 2013|
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