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Numis Acts as Joint Financial Advisor and Joint Broker to St. Modwen in 1.3bn Buy-Out by Blackstone.

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Numis has supported St. Modwen Properties PLC, a FTSE 250 British housebuilder and logistics firm, on its £1.3bn buy-out by Blackstone, the New York-based private equity firm.

The final offer price was 560p per share in cash, a 21.1% premium to net asset value and a 38.3% premium to the three-month VWAP.

Numis played an important role as Joint Financial Advisor and Joint Broker from the first approach through to completion, providing input on value, tactics and shareholder engagement to achieve shareholder value.

“Numis knows St Modwen and our shareholders very well, having supported us over the years. Their deep understanding of our company was invaluable in their role as joint financial advisor on the transaction.”

Sarwjit Sambhi CEO, St Modwen
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Numis led on shareholder interaction throughout the process, with the revised offer receiving the support of major shareholders. The final result showed 96% of votes in favour, demonstrating the strength of Numis’ integrated broking and advisory offering.

"With its strong pipeline and operating platform in Logistics and Housebuilding, St. Modwen was able to consider the offer from a position of strength.”

Heraclis Economides Managing Director, Investment Banking

Investment Banking