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Investors Circle IQSA in £4bn Takeover Bid

Posted by Richard Ward in

Image courtesy of Flickr, Creative Commons

Reports indicate that some of the world's largest property investors are considering a takeover bid for iQ Student Accommodation (IQSA) as it considers either a sale or stock market listing in 2020.

Those eyeing up a bid before the deadline include Blackstone, Brookfield, Greystar, Patrizia and Mapletree.

Bids for the business, which is controlled by Goldman Sachs and the Wellcome Trust Charity, must be made before Christmas.

The deal could be worth up to £4 billion, however, the owners of IQSA are also working with several banks on an initial public offering (IPO).

These include Citi and HSBC who have been hired as bookrunners, with Panmure Gordon and Peel Hunt being handed co-lead manager roles.

Goldman Sachs is also working with Morgan Stanley and Eastdil Secured on the dual-track process.

The news follows on from the takeover of Liberty Living by Unite Group, in a deal worth £1.4bn.