Bassi On Verge of Gaining Control of Rei ; Takeover in Association with Www.Rbs.Co.Uk

Birmingham Post › October 28, 2008

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Summary

Speculation was mounting last night that financier Paul Bassi is on the verge of taking control of Birmingham-based Real Estate Investors plc (REI).

Together with REI finance director Marcus Daly and other associated investors, he now holds just under 29 per cent of the shares in the AIM-listed property investment company. Once that holding reaches 29.99 per cent, they are obliged under Stock Exchange rules to buy the remaining shares and take the company private.

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Extract

Bassi On Verge of Gaining Control of Rei ; Takeover in Association with Www.Rbs.Co.Uk

Chief executive Mr Bassi and Mr Daly have paid 4.5p for 7,000,000 ...

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