News - Midlands
REI close to going private
Speculation is growing that Birmingham property investor Paul Bassi is close to taking his AIM-listed investment firm Real Estate Investors private. He has purchased a further one million shares at 4p a share, taking his personal interest in the company to 24.48 per cent of the issued share capital. However, taking into account the shares of other investors who bought into REI when Paul Bassi was appointed a director of the company, the group now has an aggregate interest in REI of 29.06 per cent – less than 1 per cent off the 30 per cent figure that would trigger a compulsory requirement for him and his investors to make a full offer.