Advertisement EY mid banner
Advertisement: Bradfield Centre mid
RealVNC mid banner careers
Advertisement Cambridge China Centre
Advertisement: TTP
Advertisement: Wild Knight Vodka
Advertisement: Mogrify
Advertisement: Cambridge Network
RealVNC mid-banner general
Mid banner advertisement: BDO
Barr Ellison Solicitors – commercial property
Advertisement: RSM
ARM Innovation Hub
25 October, 2006 - 14:28 By Staff Reporter

Countrywide accepts 3i's offer according to reports

Essex based estate agent Countrywide has accepted an offer of around £900m from VC 3i, according to reports from the national press.Essex based estate agent Countrywide has accepted an offer of around £900m from VC 3i, according to reports from the national press.

It is understood that 3i plans to back chief executive Harry Hill in an MBO, although Countrywide is yet to make an announcement to the stock exchange.

The company's shares were a shade down at 514p on the speculation.

There were reports earlier in the month that talks between 3i and Countrywide had broken down because the Witham based estate agent was unwilling to accept the 530p per share offered.

Countrywide is the largest UK estate agency and property services group operates four divisions: an estate agency; a financial services business; residential surveying and valuation; and residential conveyancing.

Add new comment

Newsletter Subscription

Stay informed of the latest news and features