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Sunterra

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bobcat

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Sunterra has problems in Europe. Ther is a firm that wants to buy them out. Do not know if Sunterra will sell. However, there are some large fund stockholders who want the whole Co. sold. As of today the S. E. C. is checking on Sunterra. That is not good. nobody knows how this will play out. Right now, they have several problems. Bobcat
 
At the Sunterra Europe AGM last week it was reported that:

"an unsolicited bid for Sunterra Europe had been received but the details of the bidder were not disclosed but the bid was being evaluated and that Sunterra were having Sunterra Europe valued by investment bankers so that they could decide whether the bid was worth considering or not, they are obliged to do this so that they can present it to the shareholders along with their recommendation to either accept or reject the offer" (Tony Pearce, Member Director).

Make of that what you will.

Kitty
 
There are some posters on www.timesharetalk.co.uk with some knowledge of what is going on, including former Sunterra executive turned whistleblower Ian Podesta. Check the Sunterra board there for more info.

It is reported that the company seeking the buyout is Club La Costa, which was also reported to have already securing a commitment for financing.

Club La Costa is affiliated with RCI rather than II, which would have some impact on exchanging to Europe. Sunterra is II. Club La Costa also has a good working relationship with DAE.
 
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