EXCLUSIVE: Runwood dismisses ‘fake news’ sale rumours


Runwood Homes Managing Director Logan Logeswaran has firmly rebutted a report by Property Week last week which claimed that the care provider had been put up for sale.

Property Week reported on Friday that Runwood owner and CEO Gordon Sanders had instructed Knight Frank to sell the business at an asking price of around £350m.

Logan told CHP Runwood had been “surprised” to see the “very damaging” article after informing Property Week in writing that there had been no sale instruction.

Story continues below

“Our finance director contacted Knight Frank to verify this information and they also denied receiving any such instruction,” he said.

“We, therefore, believe this to be fake news intended to cause damage to Runwood’s business.”

Logan said Gordon Sanders had also confirmed that he had not instructed Knight Frank to carry out the sale.

Knight Frank declined to comment on the story when approached by CHP.

The speculation reflects the currently febrile climate surrounding the care home sector in the immediate aftermath of news that Terra Firma had accepted an offer from US hedge fund H/2 Capital to take over Four Seasons Health Care (see BREAKING NEWS: Terra Firma agrees to H/2 Capital’s Four Seasons rescue plan).


Tags : acquisitiionRunwood Homes

The author Lee Peart

Leave a Response