RBS rescues Four Seasons from abandonment by owner
21/07/2008
Four Seasons, the troubled nursing-home chain worth £1.3bn, is to be rescued by The Royal Bank of Scotland as the chain's owner, the Qatar Investment Authority, abandoned salvage plans.The QIA previously appointed Credit Suisse to assist with a financial restructuring of the care home chain, but was unable to come to an agreement with the debt holders. The QIA have accepted that its £110m stake in the business is worthless.It is thought that the QIA have approached Paul Taylor, its former investment partner, to assist RBS with finding a solution. Taylor bought the business two years ago.
