BC Partners Re-Acquires Stake in Foxtons, Telegraph Reports
BC Partners Ltd. re-acquired a majority stake in real estate agent Foxtons Ltd. for between 55 million pounds ($87 million) and 75 million pounds, the Sunday Telegraph reported, without saying where it got the information.
BC Partners had ceded control of Foxtons in 2010 after creditors reorganized the real estate company’s debt.
The transaction will result in a “paper profit” for Bank of America Corp. and Mizuho Financial Group Inc. (8411), who exchanged 280 million pounds of debt for a 52 percent stake during Foxtons’ restructuring, according to the newspaper.
Ed Orlebar, a spokesman in London for BC Partners, declined to comment on the report.
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