U.S. Fund Varde Controls 80% of Crest Nicholson, Telegraph Says
Varde Partners Inc., a U.S. investment fund, controls more than 80 percent in U.K. housebuilder Crest Nicholson Plc, the Sunday Telegraph reported, citing a letter from Crest to its lenders.
Varde plans to reduce Crest’s borrowings and acquire the company through a debt-for-equity swap, the report said.
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