Property Week reports that South African investor Nathan Kirsh has made a bid to takeover Minerva with a 50p per share cash offer valuing the company at £84.5m.
He made the bid last night through the vehicle Kifin, which makes investments for the benefit of Nathan Kirsh and his family.
Kifin said the offer is at a premium of 30.7% to Minerva's closing price yesterday of 38.25p and a 52% premium to the average closing price of 32.9p per Minerva share for the three months up to yesterday.
Minerva are involved in the ill fated Park Place scheme.
