Aldersgate Investments
British Virgin Islands holding company owned by Reuben family trusts
| Aldersgate Investments Limited
| |
|---|---|
| Type | Private company incorporated in the British Virgin Islands |
| Headquarters | British Virgin Islands |
| Industry | Holding company for property-related investments |
| Subsidiaries | Northern Racing; Arena Leisure (from 2012) |
Aldersgate Investments Limited is a company incorporated in the British Virgin Islands. In 2012 the Office of Fair Trading described it as "wholly owned by family trusts controlled by two individuals, David and Simon Reuben" (David Reuben and Simon Reuben of Reuben Brothers).[1] Its 2012 bid announcement described it as "a holding company for property related investments" with investments in the United Kingdom, mainland Europe and other jurisdictions.[2] No UK company of that name appears on the Companies House register.[3]
Racecourses
According to the OFT, Aldersgate owned Northern Racing, which operated ten UK racecourses, owning nine of them and managing the tenth at Ffos Las in Wales.[1] Reuben Brothers' timeline records the purchase of Northern Racing in April 2007 for about £90m.[4]
On 13 January 2012 Aldersgate announced a cash offer for Arena Leisure plc, which owned seven racecourses. The offer was 44.25p a share, valuing Arena at about £167m.[2][1] The announcement named the companies of Trevor Hemmings, Coatbridge Limited and Rumney-Manor Limited, as having given irrevocable undertakings to support the scheme (41.09% of Arena's shares).[2] Sources describe the existing 29.8% stake in Arena differently:
- the OFT decision says "Aldersgate already owns 29.8 per cent of Arena";[1]
- the bid announcement says the 108,639,495 shares (29.8%) were held by Reuben Brothers Limited, "a company which is acting in concert with Aldersgate".[2]
The announcement quoted Stephane Nahum "of Motcomb Estates Limited representing Aldersgate" (Motcomb Estates) and gave Luther Pendragon as Aldersgate's PR adviser.[2] The OFT decided on 26 March 2012 not to refer the merger to the Competition Commission.[1] Reuben Brothers' timeline records that Arena and Northern Racing were combined in August 2012 to form the Arena Racing Company.[4]
See also
Notes
- ↑ 1.0 1.1 1.2 1.3 1.4 Office of Fair Trading, Anticipated acquisition by Aldersgate Investments Limited of Arena Leisure plc, ME/5352/12 decision of 26 March 2012, published 2 April 2012, accessed 31 October 2026.
- ↑ 2.0 2.1 2.2 2.3 2.4 Aldersgate Investments Limited, Offer by Aldersgate Investments Limited RNS announcement, 13 January 2012, reproduced by shareprices.com, accessed 31 October 2026.
- ↑ Companies House, Search results: "Aldersgate Investments" accessed 31 October 2026.
- ↑ 4.0 4.1 Reuben Brothers, Timeline reubenbrothers.com, accessed 31 October 2026.