DGAP-News: Erste Abwicklungsanstalt / Key word(s): Investment/Disposal
Sale of Basinghall Finance PLC (or the assets thereof)
29.01.2014 / 09:10
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Sale of Basinghall Finance PLC
(or the assets thereof)
Notice for Expressions of Interest
Basinghall Finance PLC ('Basinghall') is a UK mortgage lender and servicer
that is 100% owned by Erste Abwicklungsanstalt ('EAA') and is authorised
and regulated by the Financial Conduct Authority. As the sole shareholder,
EAA seeks to dispose of all of its interests in Basinghall, either by way
of disposal of all shares in Basinghall or by disposal of the assets held
by Basinghall (the 'Proposed Transaction'). Basinghall's assets consist
principally of mortgage loans to borrowers in the UK with first-ranking
security over residential property in England and Wales.
Cohen & Company Financial Limited ('CCFL') has been exclusively mandated to
advise EAA on the Proposed Transaction. Any interested party wishing to
submit an indication of interest must register their interest with CCFL via
the contact information stated below.
EAA reserves the right to restrict the number of parties invited to
participate in the sale process. In doing so, EAA will assess the
expressions of interest based on whether the interested party (1) is able
to ensure secure financing for the Proposed Transaction, (2) confirms that
it is seriously interested and capable to conclude the Proposed Transaction
by Q2 2014 and (3) is reasonably capable of receiving all approvals as may
be required by the relevant competition, regulatory and other authorities
required for the Proposed Transaction. Interested parties are requested to
include, with their indication of interest, confirmation that they can
satisfy these criteria and the basis on which they believe they can satisfy
criteria (1) and (3).
Following the registration of interest, interested parties who are invited
to participate in the sale process will be required to sign a customary
non-disclosure / confidentiality agreement. They will then be invited to
take part in the further process and will receive further information
regarding Basinghall and the sale process subject to the executed
non-disclosure / confidentiality agreement. CCFL and EAA intend to make
information regarding Basinghall available to those parties from and
including 6th February 2014.
EAA reserves the right to alter the timing of the process, to amend the
terms of the process or to discontinue the sale process, provided that EAA
will at all times act in a way consistent with the principles of an open,
transparent and non-discriminatory bidding process.
To register your interest please contact:
Cohen & Company Financial Limited
Telephone: +44 (0)203 540 6000
Email: basinghall@cohenandcompany.com
This notice was prepared exclusively in order to inform potential bidders
of the opportunity to indicate their interest in the Proposed Transaction.
This call for expressions of interest is not subject to EU or national
public procurement rules. No formal tender procedure may be claimed.
Recourse to public procurement tribunals (Vergabekammern) may not be
sought.
The distribution of this notice in certain jurisdictions may be restricted
by law, and recipients should inform themselves about, and observe any
applicable legal or regulatory requirements in relation to, the
distribution or possession of this notice. Neither EAA, nor CCFL, nor
their or their affiliates' respective directors, officers or agents, accept
any liability to any person in relation to the distribution or possession
of this notice in any jurisdiction. This notice does not constitute an
offer to sell or a solicitation of an offer to subscribe for or purchase
any securities by any person in any jurisdiction.
End of Corporate News
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29.01.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Erste Abwicklungsanstalt
ElisabethstraÃe 65
40217 Düsseldorf
Germany
Phone: 0211 826 7993
Fax: 0211 826 7883
E-mail: info@aa1.de
Internet: www.aa1.de
ISIN: DE000WLB27H2
WKN: WLB27H
Listed: Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover,
München, Stuttgart; Frankfurt in Open Market
End of News DGAP News-Service
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249975 29.01.2014
DGAP-News: Sale of Basinghall Finance PLC (or the assets thereof)
| Source: EQS Group AG