Quadrant selling down 37.2 percent stake in Summerset; shares halted

Fri, 17 May 2013

May 17 (BusinessDesk) - Summerset Group shareholder Quadrant Private Equity is selling down its 37.2 percent stake in the retirement village operator, taking advantage of the stock’s 34 percent advance this year. QPE Funds Management, the Quadrant unit that holds the shares, “is in the process of selling part of its shareholding,” Summerset said in a statement. QPE has asked Summerset to seek a trading halt for the transaction to proceed. Shares of Summerset last traded at $3, valuing the company at $654 million, and have soared along with th...

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