"We are very pleased that the special committee has selected an advisor and the company can now proceed with the process of soliciting expressions of interest from prospective purchasers," said W. Ross Martin, chief financial officer.
In late June, Captec's board of directors retained a financial advisor to study strategic alternatives to maximize the company's value for shareholders. As a result, the board decided in September to pursue a possible sale of the company. The company's previous advisor recently curtailed its investment banking business.
Captec is a real estate investment trust that invests in long-term netleased restaurant and retail properties. As of Sept. 30, the companyowned and/or managed a diversified portfolio of 252 freestanding restaurant, retail and entertainment properties in the United States.
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