24th Aug 2018 08:49
LONDON (Alliance News) - Electra Private Equity PLC said Friday it has closed its formal sales process without receiving any offers to acquire the company.
Back in May, the investment trust said it was considering the sale of either the company itself or its asset portfolio and had entered into an offer period.
However, while offers for the company's assets have been received, no offers have been made for the company.
Electra said it is in continuing discussions with multiple parties for the acquisition of individual or grouped assets but said there was no certainty that any of the offers would prove acceptable.
"Whilst as part of our review we continue to explore interest in the portfolio of assets, individually and in groups, with each of our main assets having received more than one expression of interest, we are no longer considering a sale of the company and have therefore terminated the regulated formal sales process," said Electra Chairman Neil Johnson.
"The final stage of our strategic review continues, and we anticipate announcing the result before the end of October," Johnson added.
Shares in Electra Private Equity were down 0.8% at 906.00 pence on Friday.
Related Shares:
ELTA.L