JO Hambro and Guinness Peat launch bid for failing investment

Thursday 14 March 2002 at 16:00

Two City of London fund managers have banded together in an unsusual move to launch a takeover offer for one of their most unsatisfactory investments.

JO Hambro Capital Management and Guinness Peat Group have tabled a 79p a share offer for Nationwide Accident Repair Services where the two shareholders already control 38% between them. The bid values the group at £21m (€33.8m).