City Of London
UK Homebuilder Countryside Bows to Activists, Launches Sale
- The firm has hired Rothschild to manage the sale process
- Inclusive Capital has told the board it wants to take part
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UK homebuilder Countryside Partnerships Plc has put itself up for sale after coming under pressure from shareholders.
The company has appointed Rothschild & Co. to undertake a formal sales process once it has completed preparatory work that is expected to take several months, according to a statement Monday. The announcement comes after Countryside rejected two unsolicited offers from Inclusive Capital, saying they undervalued the company.