LONDON (Reuters) – Foxtons, the British estate agents, and its private equity owner BC Partners may appoint investment bank NM Rothschild to review the business amid the property market downturn, the Financial Times reported.
The Foxtons board is scheduled to meet this week to make a decision on the brief, which is expected to include a restructuring of its financing, the FT said on Monday.
Foxtons, including mortgage adviser Alexander Hall Associates, was sold to BC Partners in May 2007 for about 390 million pounds ($729 million). The Foxtons U.S. business was not part of the deal at the time, when the then booming British housing market was showing signs it might be starting to cool.
The company was not immediately available for comment. (Reporting by Dan Lalor; editing by Rory Channing)