St. Modwen Says Its Buyer Is Entering A Loan Agreement To Fund The Deal


(Reuters). On Tuesday St. Modwen Properties said the Blackstone-backed firm, which plans to privatize the UK logistics and residential real estate firm in a $ 1.75 billion deal, has entered into a loan agreement to finance the deal.

According to St. Modwen, Brighton Bidco Ltd and the co-borrower have a £ 1.15 billion ($ 1.57 billion) line of credit with RBC Europe Ltd, JP Morgan AG and United Overseas Bank Ltd.

(1 dollar = 0.7341 pounds)

Report by Aby Jose Koilparambil in Bangalore

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