Quayle Munro, the independent merchant bank, was appointed in November 2007 by the City of Edinburgh Council to undertake a comprehensive financial review of EDI Group Limited and review the strategic options open to the Council. 

Established in 1988 by the City of Edinburgh Council, EDI is a private company which is 100% owned by the council, with a remit to pursue property development in a manner that enables the Council to unlock the value of its asset base.  It owns various commercial properties in Edinburgh and participates in a number of joint ventures with the private and public sector, including a 50% interest in PARC, the vehicle charged with the regeneration of the Craigmillar area of Edinburgh.

A report, which made various recommendations, was submitted to the Chief Executive of the Council in February 2008.

Notes to Editors
Quayle Munro (www.quaylemunro.com) is an AIM-listed independent merchant bank, active in corporate finance (including equity and debt advisory), public finance, specialist fund management and investment on its own account.  The Group was co-founded in 1983 by its present Chairman, Ian Quayle Jones, and listed on the London Stock Exchange via an Introduction in 1993, transferring to AIM in 2003.  In July 2007 it acquired the corporate finance adviser, New Boathouse Capital, which was established by Peter Norris in 2000.  Peter Norris became Chief Executive of the Group at this time.  With offices in London, New York and Edinburgh, the Group has an attractive spread of clients across sectors.