PRS REIT confirms sale talks ongoing with Long Harbour

(Sharecast News) - Suburban housing investment trust PRS REIT confirmed it was still in talks on a potential sale worth £631m with real estate management firm Long Harbour. PRS put itself up for sale last year and received "several" non-binding proposals, with none beating Long Harbour's 115p-a-share proposal.

"There can be no certainty that an offer will be made, nor as to the terms of any offer if made. All other non-binding proposals have now been withdrawn," PRS said on Monday.

Reporting by Frank Prenesti for Sharecast.com