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Manchester billionaire tables £583m offer for property developer Harworth
['Simon Hunt', 'City Editor']
News Archives - City AM
Manchester billionaire tables £583m offer for property developer HarworthHarworth Group unveiled plans to develop a data centreBillionaire-owned Peel Group has tabled a £583m offer for Harworth as the property developer is poised to become the latest firm to exit the London Stock Exchange.
Peel Group, which already owns around 30 per cent of Harworth’s shares, is itself majority-owned by Manchester billionaire John Whittaker.
Whittaker made his fortune from the sale of the Trafford shopping centre in Manchester in 2011 for £1.6bn, which set a record for the largest-ever property sale in Britain.
Peel Group said it thought Harworth’s listing “provides limited benefit to the company” because its “highly concentrated shareholder register…impacts its share liquidity and limits growth.”
Harworth has already seen its shares jump more than 10 per cent this week after it revealed plans to develop a new hyperscale data centre.