Northacre Plc (NTA), developer of The Lancasters luxury apartments opposite London’s Hyde Park, is in talks to be acquired by two separate companies, one of which is led by its Chief Executive Officer Ken MacRae.
The discussions are at an early stage and there is no certainty of an offer, the London-based company said in a statement today. An independent committee has been formed to assess the offers.
MacRae is leading one of the approaches through his management buyout company 2492 Ltd., while the other is from Abu Dhabi Capital Management LLC, according to the statement.
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