THE NETHERLANDS - ING Real Estate - the property investment arm of ING Group - is to make a EUR261m bid for an 80% stake in Spanish real estate company, Filo.
Filo is most active in the development and management of shopping centres, and ranks among the top 5 listed Spanish real estate companies.
The offer will be made via the Spanish stock exchange (Comision Nacional del Mercado de Valores), and amounts to EUR 2.4 per share for the series A-shares, and EUR 2.58 per share for the series B-shares.
*The moves follows ING Real Estate’s recent cooperation with Regus Business Centres, in a bid to expand the business centre concept in the Dutch market.
Operational management of D-Office - a unit of ING Real Estate and provider of flexible accommodation - will be taken over by Regus. The collaboration is in line with ING Real Estate's strategy to strengthen its position in the office market, said the firm.
By Madhu Kalia
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.