PRS Reit in 'active discussions' with a number of potential buyers
By Benjamin Chiou
Date: Tuesday 03 Dec 2024
(Sharecast News) - Close-ended real estate investment trust PRS has announced that it is in "active discussions" with potential bidders after the recent revelation that it was considering a sale.
PRS said on 23 October that it had started a strategic review to explore various strategic options available to enhance value for shareholders, including a potential sale.
The company then entered into a formal sale process in accordance with Takeover Code rules, which enables conversations with parties interested in making a proposal to take place on a confidential basis.
"Pursuant to the formal sale process, the board is currently in active discussions with a number of interested parties in relation to a potential sale of the company and has made available a dataroom," PRS said on Tuesday.
The company also said it was continuing to explore all other options to maximise value for shareholders, and would provide a further update in the first quarter of 2025.
PRS shares were up 0.6% at 103.8p, having now risen 34% over the past six months.
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