Tchenquiz joins 3i and Bridgepoint in battle for property services firm

Property services company Erinaceous is believed to have received a takeover approach from Vincent Tchenguiz, brother of Iranian entrepreneur Robert.

Vincent Tchenguiz

Tchenguiz is the third bidder to join the battle for Erinaceous, along with private equity firms 3i and Bridgepoint. Reports today suggest that a fourth bidder will join the fray.

Erinaceous first confirmed in April that it had received interest from potential bidders. Its shares recently dropped after fraud allegations were made against a subsidiary, Dunlop Haywards, last year. Erinaceous set aside £4.4m to cover costs related to this.