Named and Shamed

Named and Shamed


Squalid roads, buildings and locations in Croydon named and shamed.

Friday, September 26, 2008

Minerva Offer Collapses

In July I noted that Minerva, the developer which Croydon Council expect to develop Park Place, had received an offer from Limitless.

Property Week reports today that:

"Shares in listed developer Minerva fell 33% to 52p this morning after Limitless withdrew its prospective takeover offer.

The development arm of the Dubai World sovereign wealth fund told the London Stock Exchange this morning that it had withdrawn its 160p-a-share offer

I do not see that this is good news for the Park Place development as, despite whatever Minerva claim, their financial position is now weakened.