Private equity firm CC Capital refutes claims it plans to bid for IWG
CC Capital will not make a takeover bid for office space provider IWG, the U.S. private equity firm said, following a Sky News report of deal talks between the two.
IWG shares jumped as much as eight per cent on hopes of a bid, which claimed CC Capital and IWG were in talks that would value the property company at more than £4bn.
According to Sky News, the secret talks took place last month.
CC Capital Partners also pointed out that as a consequence of its announcement, it will be barred under UK rules from making a bid for IWG for at least six months unless it receives the consent of the UK Panel on Takeovers & Mergers.