Hansteen in KEIF stake talks

Hansteen Holdings is in preliminary talks to take over the Kenmore European Industrial Fund (KEIF) for £56.8m as it looks to ramp up its exposure to continental European real estate. Hansteen logged its interest in buying the fund after acquiring an initial 12 per cent stake from Knowe Properties for £3.36m in cash and around 4.1m new Hansteen shares, the equivalent of 20p in cash and 0.2469 Hansteen shares for every KEIF share.