Greycoat hands PR to Shandwick

Shandwick has picked up the financial PR account for Greycoat, the City property company which was this week the subject of a hostile takeover bid from rival property firm Delancey Estates.

Shandwick has picked up the financial PR account for Greycoat, the

City property company which was this week the subject of a hostile

takeover bid from rival property firm Delancey Estates.



Greycoat had retained Smithfield Financial until this week, when the

agency stood down from the account because of a potential conflict with

its sister agency, Bell Pottinger Financial. Bell Pottinger has advised

Delancey since the latter was founded more than a year ago and has a

long-standing relationship with Delancey investor British Land.



Shandwick handled Greycoat’s PR three years ago, before losing the

account to Bell Pottinger Financial. The account moved to Smithfield, a

wholly-owned subsidiary of Bell Pottinger, when the agency was set up

last August.



Shandwick will handle all financial media, analyst and investor

relations for the property company, which part-owns the former NatWest

Tower.



The account will be led by Shandwick financial managing director, John

Reynolds. He will report to Greycoat chief executive Peter Thornton.



Delancey’s bid for Greycoat has forced the firm to bring forward its

previously secret plans to solicit potential buyers. Delancey has a 9.8

per cent stake in Greycoat, which it bought last year. One of Delancey’s

main investors, alongside British Land, is international financier

George Soros.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in