Bondcare Group is planning a takeover of struggling—and rival—UK nursing home operator Four Seasons Health Care Group, Ltd., according to Sky News.
Leib Levison, Bondcare’s CEO, is spearheading a bid for Four Seasons, which is Britain’s largest nursing home operator, the article says.
The three banks advising Four Seasons on its auction (Deutsche Bank, Gleacher Shacklock and Rothschild) have asked bidders to submit offers by early next week. The business, which is controlled by its lenders, including state-backed Royal Bank of Scotland, is expected to fetch up to £900m.
It’s unclear whether Bondcare is bidding alone or with partners.
The other interested parties are the private equity tycoon Guy Hands and a consortium of Formation Capital and Patron Capital, two investment firms.
Four Seasons, which operates around 500 properties, has put itself up for sale after struggling to repay debt, some of which was assumed by picking up 140 of Southern Cross’s nursing homes. Back in February, Bloomberg reported that a Hong Kong billionaire would possibly make a bid on the company.
Read more at Sky.com.
Written by Alyssa Gerace