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Formation Capital enters binding agreement to buy £478m former Southern Cross nursing homes

Formation Capital has entered into a binding agreement to acquire shares in the company, and all subsidiaries, which owns almost 300 former Southern Cross UK care homes for an all-cash £477.67m.
By James Wallace
November 3, 2014 | 7:33 P.M.

The NHP care home business, the UK’s third largest care home business, was secured by a £1.17bn Libra whole loan, of which £638m was securitised by the Titan Europe 2007-1 (NHP) Limited CMBS, which failed to repay at maturity in 2009.

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