Toscafund Asset Management has increased its stake in serviced office provider IWG by 1.19 percentage points to 15.40%.
The move by Toscafund to build up its shareholding in the group follows the collapse of talks between IWG and three potential private equity buyers last month.
Mark Dixon, chief executive of the company behind the Regus office brand, said discussions about a potential all-share takeover deal with Starwood Capital, Terra Firma and TDR Capital towards the beginning of August had been ended because of a combination of “time and conditions”.
It is understood that IWG’s management had been looking to extract bids of around 335p per share for the company, but none of the bidders was able to reach the demanded level.
IWG owns £150m of freehold assets in the UK.
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