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....But it has gone through a number of different owners over the years. Ms Mellon and the first of several different private equity suitors bought out Mr Choo in 2001. ... [Read full article on BBC ]
Monday 24th of April 2017 06:35:35 AM
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.... The sale of Britain’s military housing was just one of those deals. The result is that today, thousands of former army houses are managed by a company run from one of the smartest streets in London, and owned by a private equity fund based in Guernsey. ... [Read full article on Guardian ]
Tuesday 25th of April 2017 04:30:38 AM
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....Elliott itself has made demands on dozens of companies in recent years, turning its attention beyond the technology firms that were once its primary focus. The firm has also branched out its partnerships, working with a private equity firm in at least one instance and taking a large stake in Bentham Ventures, a firm focused on shareholder lawsuits. ... [Read full article on BBC ]
Sunday 23rd of April 2017 06:58:24 AM
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....With 65% of its workforce drawn from EU countries other than Britain, Pret’s director of human resources, Andrea Wareham, told MPs it would struggle to find enough staff if it was forced to turn its back on EU nationals after the UK leaves the European Union. Pret’s attempt to appeal to British school leavers got off to a rocky start last month when the company came under fire after the Guardian reported it was offering 500 teenagers a week of work experience, without pay, to give them a taste of working for the private equity-backed firm. ... [Read full article on Guardian ]
Thursday 27th of April 2017 07:01:44 PM
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Latest Finance News related to Private Equity

Pret a Manger launches charm offensive to recruit British workers image
Source : Guardian [Read Article] Thursday 27th of April 2017 07:01:44 PM
....With 65% of its workforce drawn from EU countries other than Britain, Pret’s director of human resources, Andrea Wareham, told MPs it would struggle to find enough staff if it was forced to turn its back on EU nationals after the UK leaves the European Union. Pret’s attempt to appeal to British school leavers got off to a rocky start last month when the company came under fire after the Guardian reported it was offering 500 teenagers a week of work experience, without pay, to give them a taste of working for the private equity-backed firm. ...
Jimmy Choo seeks well-heeled buyer image
Source : BBC [Read Article] Monday 24th of April 2017 06:35:35 AM
....But it has gone through a number of different owners over the years. Ms Mellon and the first of several different private equity suitors bought out Mr Choo in 2001. ...
Packing a punch image
Source : BBC [Read Article] Sunday 23rd of April 2017 06:58:24 AM
....Elliott itself has made demands on dozens of companies in recent years, turning its attention beyond the technology firms that were once its primary focus. The firm has also branched out its partnerships, working with a private equity firm in at least one instance and taking a large stake in Bentham Ventures, a firm focused on shareholder lawsuits. ...
Government cap on energy prices would spark backlash | Nils Pratley image
Source : Guardian [Read Article] Wednesday 19th of April 2017 06:12:57 PM
....In the distant past, select committees have sometimes been grossly under prepared when tackling business subjects. Those of us who covered the 2007 inquiry into the private equity industry by the Treasury committee remember angry MPs frustrating themselves, and their audience, as they failed to get beyond the jargon. ...
Investors think the election means a softer Brexit – are they right? image
Source : Guardian [Read Article] Tuesday 18th of April 2017 06:40:16 PM
.... If the election delivers a messy result – even a barely improved Tory majority – what would really have changed?. The late Sir Richard George, the businessman who built Weetabix as a family company before selling it to a private equity firm in 2003, understood he was selling a product with limited international appeal. ...
Weetabix sold to US firm after breakfast cereal fails to catch on in China image
....Weetabix is exported to more than 90 countries but the UK accounts for the majority of sales and the brand is a royal warrant holder. It was family-owned until 2004, when it was bought by a Texas private equity firm. ...
Weetabix to be sold to US company Post Holdings image
Source : BBC [Read Article] Monday 17th of April 2017 11:07:28 PM
...."Going forward, Bright will stick to our overseas push," he said. Northamptonshire-based Weetabix, which has a royal warrant, was family-owned until 2004, when it was bought by private equity firm Lion Capital. ...
Higher interest rates. Great idea. Here’s why it won’t happen image
Source : Guardian [Read Article] Saturday 15th of April 2017 04:00:06 PM
....And why wouldn’t they? Plenty of mainstream economists express the same concerns, including policymakers at the Bank of England, the International Monetary Fund, the OECD and the World Bank. After several years of year-on-year growth, runs the argument, higher interest rates will deter banks, insurers and even hedge funds and private equity funds from taking excessive risks to improve their profits. ...
How the beery vision of brewing a small fortune can fall flat image
Source : Guardian [Read Article] Saturday 15th of April 2017 08:59:21 AM
.... Quit the day job, buy the requisite kit and brew up batches of foaming nut-brown ale. If you’re particularly successful, you can cash in your chips by selling to a global mega-brewer, like Camden and Meantime, or make a cool £100m by wooing a private equity backer, as the founders of BrewDog did earlier this month. ...
Bernard Matthews seller 'lined own pockets' by rejecting pension offer image
....The former owners of Bernard Matthews “lined their own pockets” by rejecting a takeover offer that would have protected the turkey producer’s pension scheme in favour of an insolvency process that ensured a greater return for themselves, MPs have claimed. The influential Commons work and pensions select committee said that the move by private equity firm Rutland Partners, which sold the company’s assets for £87. ...
Judges reject US banker's claim to be a genius in divorce case image
Source : Guardian [Read Article] Tuesday 11th of April 2017 01:07:22 PM
....A US banker has been ordered to pay his ex-wife half of the family’s £140m fortune, after the court of appeal rejected his claim that his “genius” outshone her contribution to the marriage. Randy Work, 49, a former executive at Texas-based private equity firm Lone Star, had first claimed that his wife of 20 years, Mandy Gray, was entitled to only £5m because she had “unfortunately” failed to stick to the terms of their prenuptial agreement and had had an affair with the couple’s personal physiotherapist. ...
The new age of Ayn Rand: how she won over Trump and Silicon Valley image
Source : Guardian [Read Article] Monday 10th of April 2017 05:49:09 PM
....What of the current moment, shaping up to be the fourth age of Rand? The Randian politicians are still in place: Ryan is now boosted by a cabinet crammed with objectivists. Secretary of state Rex Tillerson named Atlas Shrugged as his favourite book, while Donald Trump’s first choice (later dropped) as labor secretary, Andy Puzder, is the CEO of a restaurant chain owned by Roark Capital Group – a private equity fund named after the hero of The Fountainhead. ...
Jaeger collapses into administration putting 680 jobs at risk image
Source : Guardian [Read Article] Monday 10th of April 2017 05:06:29 PM
....The brand, which dressed Audrey Hepburn and Marilyn Monroe in its heyday, had been trying to find a buyer to keep its 46 stores going, but its owner threw in the towel on Monday and appointed administrators. The private equity owner of Jaeger, which dates back to 1884, has appointed administrators at Alix Partners after proving unable to find a buyer for a suggested price of £30m. ...
Jaeger clothing chain collapses into administration image
Source : BBC [Read Article] Monday 10th of April 2017 04:13:10 PM
.... . It was acquired by private equity firm Better Capital in 2012, but was put up for sale for about £30m after struggling to boost sales. ...
BrewDog toasts £213m US private equity investment image
Source : BBC [Read Article] Sunday 9th of April 2017 02:08:58 PM
. BrewDog, the Aberdeenshire-based craft brewer, is now worth more than £1bn after selling a stake to a US private equity firm. ...
'Punk' beer maker BrewDog sells 22% of firm to private equity house image
Source : Guardian [Read Article] Sunday 9th of April 2017 01:40:17 PM
....Early investors in “punk” beer firm BrewDog will be able to bank a hefty profit this week. An injection of cash from a private equity house valued the company at £1bn, 10 years after it began life in its co-founder’s mother’s garage. ...
Jaeger going out of fashion puts 700 jobs at risk image
Source : Guardian [Read Article] Friday 7th of April 2017 03:01:10 PM
.... The retailer confirmed on Friday that it had filed a notice of intention to appoint administrators – a step that gives a company protection from creditors for 10 days before potentially tipping into administration. Last week, a mystery buyer bought all Jaeger’s debts from the private equity firm Better Capital for £7m. ...
Arcadia plan sees pension woe pile up for Philip Green image
Source : Guardian [Read Article] Saturday 1st of April 2017 03:00:28 PM
....Independent pension expert John Ralfe said the £1. 3bn in underlying liabilities that underpin the deficit would make it difficult for Green to find a private equity buyer for Arcadia. ...
Government raises £11.8bn with Bradford & Bingley mortgage sale image
Source : Guardian [Read Article] Friday 31st of March 2017 09:15:51 AM
....8bn package of Bradford & Bingley loans bought by the taxpayer at the height of the financial crisis. The loan book will be sold to the insurer Prudential and US private equity firm Blackstone, after what the Treasury described as “a highly competitive sale process”. ...
FTSE 100 slides as South African-exposed firms hit image
Source : BBC [Read Article] Friday 31st of March 2017 07:52:27 AM
....In the FTSE 250, shares in challenger bank Shawbrook soared 11. 5% after it received an £842m takeover offer from private equity firms Pollen Street Capital and BC Partners. ...
Co-operative Bank says it has interest of several credible buyers image
Source : Guardian [Read Article] Friday 24th of March 2017 10:12:57 AM
....Attention is now turning to investment firms and vulture funds which are keen to buy up parts but not all of the business. One City source told Reuters that “a break-up of the bank is inevitable,” citing private equity outfits Cerberus and Apollo as potential buyers. ...
New broom image
Source : BBC [Read Article] Friday 24th of March 2017 12:07:35 AM
....Formula 1 is under new ownership. Control has passed from private equity firm CVC Capital Partners to the US group Liberty Media. ...
1,100 Jones Bootmaker jobs at risk as private equity deal collapses image
Source : Guardian [Read Article] Thursday 23rd of March 2017 07:39:45 PM
....The shoe retailer, which employs 1,145 people, has nearly 100 stores and a handful of concessions in department stores. It is understood to be close to going under after a deal with a private equity firm collapsed. ...
Shoe retailer Brantano goes into administration with 1,000 jobs at risk image
Source : Guardian [Read Article] Wednesday 22nd of March 2017 05:41:07 PM
.... Founded in Belgium in 1953 it expanded into the UK by buying 47 Shoe City shops in 1998. For the last few weeks the company’s private equity owner, Alteri, had been attempting to sell Brantano and another footwear chain, Jones Bootmaker, which it bought along with its sister retailer for about £12m in February 2015. ...
Jamie Oliver to launch new show as part of deal with Channel 4 image
Source : Guardian [Read Article] Monday 20th of March 2017 03:41:50 PM
....6% in 2015, although pre-tax profits fell by 39% to £2. 3m due to fees from its abortive attempt to bring in private equity backing. ...
Former Barclays chief Bob Diamond to buy Panmure Gordon image
Source : Guardian [Read Article] Friday 17th of March 2017 08:15:51 AM
....Diamond had big ambitions for Atlas Mara, which was part of a consortium that last year expressed interest in buying Barclays’s African operations. Partners in the bid included the US private equity firm Carlyle and Atlas Mara indicated at the time that if the deal went ahead, it would likely be taken over by the consortium. ...
Canada Goose shares jump on stock market debut image
Source : BBC [Read Article] Thursday 16th of March 2017 04:50:44 PM
....14. Founded in Toronto 60 years ago, the company was bought by the private equity group Bain Capital in 2013. ...
TV company behind Question Time could sell for up to £300m image
Source : Guardian [Read Article] Wednesday 15th of March 2017 03:54:39 PM
....The Welsh-based international media company, which also owns sports production business Sunset + Vine, is the UK’s last remaining truly independent TV producer. Tinopolis is understood to have circulated a memorandum to a number of media owners and private equity companies that says the firm is considering a range of options, including a sale of the company. ...
Jobs at risk as Jones Bootmaker teeters on brink of administration image
Source : Guardian [Read Article] Tuesday 14th of March 2017 08:09:59 PM
....Hundreds of high street jobs are at risk at Jones Bootmaker as the retailer teeters on the brink of administration. The 160-year-old chain, which is owned by private equity firm Alteri, has filed a notice of intention to appoint administrators as it seeks a buyer. ...
UK government should help companies targeted by foreign bids, says Unilever image
....Paul Polman, chief executive of Unilever – the maker of Marmite, Magnum ice cream and Dove soap – said there should be a level playing field for British companies so they could enjoy the stronger levels of protection that businesses received in other countries. Last month Unilever was the target of a £115bn takeover bid by Kraft Heinz, which was backed by Warren Buffet and private equity firm 3G. ...
Charlotte Hogg image
Source : BBC [Read Article] Tuesday 14th of March 2017 01:51:01 PM
....Her mother Sarah Hogg, Baroness Hailsham, is an economist and former journalist. She was the first woman to chair a FTSE 100 company - the private equity firm 3i - and is a former governor of the BBC. ...
Glad to be sacked image
Source : BBC [Read Article] Monday 13th of March 2017 12:12:20 AM
....After going to university in Cape Town, he trained as an accountant, and moved to the UK in his mid-20s. Mr Gormley then worked in private equity for seven years before joining Sir Richard Branson's Virgin Group. ...
Ferrari gives up F1 stake in exchange for Liberty Media stock image
Source : Guardian [Read Article] Friday 10th of March 2017 04:46:33 PM
....Liberty’s F1 common stock is now listed on the Nasdaq under the ticker FWONK, and sits alongside Liberty’s other assets such as the Atlanta Braves baseball team, a 34% stake in the event promoter Live Nation and minority positions in the media giants Time Warner and Viacom. The acquisition of Delta Topco was fuelled with cash and stock which gave the sellers, led by the private equity firm CVC, a significant stake in Liberty. ...
Government abdicating responsibility for social care, say providers image
Source : Guardian [Read Article] Tuesday 7th of March 2017 07:00:36 AM
.... “What we will start to see is far less services at a time when we have got far more need,” he added. Despite the pressure on the sector, Green defended the large companies in the industry, such as private equity-owned Four Seasons, which have significant debts and are paying millions of pounds in interest ever year. ...
'It was devastating': families and residents suffer as care homes close image
....A couple of miles away, another home, Clyde House, summoned families and delivered the same message. Both are operated by New Century Care, which runs 25 care homes across south-east England and Yorkshire, and was taken over in 2014 by a US private equity firm, Anchorage Capital. ...
City news: Merlin Entertainments, Sportech, and Mike Ashley  image
Source : Daily Express [Read Article] Friday 3rd of March 2017 08:59:00 AM
...._________________________________________________________________. SPORTECH has scored a deal to offload its Football Pools business to private equity firm OpCapita for £83million. ...
Mike Ashley firm buys lingerie firm Agent Provocateur image
Source : BBC [Read Article] Thursday 2nd of March 2017 04:27:32 PM
.... . It has been reported that the firm linked to Mr Ashley paid around £25m after seeing off competition from private equity firm Lion Capital. ...
Agent Provocateur founder brands Mike Ashley's purchase 'a stitch-up' image
Source : Guardian [Read Article] Thursday 2nd of March 2017 12:46:56 PM
....The co-founder of Agent Provocateur has described the sale of the upmarket lingerie retailer to Mike Ashley as “a disgrace to British business” and “preposterous”. Joe Corré, the son of Dame Vivienne Westwood, warned that Ashley and 3i, the private equity fund has offloaded the brand, will “face a phenomenal swath of litigation actions” over the controversial deal. ...
Mitie sells home healthcare business for £2 image
Source : BBC [Read Article] Wednesday 1st of March 2017 09:35:09 AM
....Outsourcing firm Mitie, which has issued three profit warnings in the past year, is selling its home healthcare business for just £2. The buyer is private equity firm Apposite Capital, which will also receive £9. ...
FTSE 100 closes at new record high image
Source : BBC [Read Article] Wednesday 1st of March 2017 09:19:22 AM
....On the FTSE 250, outsourcing firm Mitie Group added 3. 6% after selling its troubled social care businesses for a nominal £2 to private equity firm Apposite Capital. ...
Middle-aged dog walkers to lead Mountain Warehouse across US image
Source : Guardian [Read Article] Monday 27th of February 2017 09:35:52 AM
....Neale is half of a business power couple. His wife Michelle Feeney, who ran self-tanning brand St Tropez, is working on a new beauty business and sits on the advisory board of private equity firm Palatine. ...
Theresa May must take £115bn hint from Kraft Heinz's failed Unilever bid image
Source : Guardian [Read Article] Monday 20th of February 2017 07:33:19 PM
. Warren Buffett and his Brazilian private equity chums at 3G, the main players at Kraft Heinz, must process their cheese and beans on another planet. ...
How Unilever foiled Kraft Heinz's £115bn takeover bid image
Source : Guardian [Read Article] Monday 20th of February 2017 07:15:00 PM
....The rapid volte face saw Unilever’s shares fall by nearly 8% on Monday – their worst one-day performance since 2008 – after soaring by 13% on Friday to a record high when the firm revealed it had knocked back an initial approach. Well-placed sources said Kraft Heinz’s key investors – investment guru Warren Buffett and private equity tycoon Jorge Lemann – were forced into a chastening retreat after Unilever made clear the company stood no chance of sealing the second-largest corporate deal in history. ...
Kraft Heinz withdraws Unilever takeover bid image
Source : Guardian [Read Article] Sunday 19th of February 2017 05:28:53 PM
....”. Unions had voiced fears over the 9,000 jobs in Britain that could be affected under a takeover of Unilever by Kraft Heinz, where billionaire investor Warren Buffet owns more than a quarter of the shares and which is also backed by 3G, a Brazilian private equity firm. ...
Another Brexit downside: foreign giants in power grabs for famous British names image
.... GM’s European business has not made a profit in the 21st century and the drop in the value of the pound has made carmaking in the UK even less attractive for a US company. And 3G Capital, the private equity fund that teamed up with Warren Buffett to merge Heinz and Kraft, has a reputation for cost-cutting. ...
The Unilever-Kraft Heinz takeover: the three key players image
Source : Guardian [Read Article] Friday 17th of February 2017 05:30:54 PM
....He has been married twice and has three children. A co-founder of private equity giant 3G Capital, Jorge Paulo Lemann is ranked the world’s 19th richest man and Brazil’s wealthiest, with a fortune estimated at $29. ...
Unilever to mount fierce defence against Kraft Heinz after rejecting £115bn offer image
....The US firm’s attentions drew fire from trade union Unite, which branded Kraft “predatory” and predicted that any deal would trigger job losses among the two companies’ combined UK workforces of nearly 9,000. It said Kraft Heinz, backed by Brazilian private equity group 3G Capital and Berkshire Hathaway – the investment vehicle of billionaire investment guru Warren Buffett – was out to make a “quick buck”. ...
Lingerie brand Agent Provocateur could be heading for administration image
Source : Guardian [Read Article] Wednesday 15th of February 2017 07:32:35 PM
....The brand has been hit by lacklustre sales and accounting issues. Last November, 3i wrote down the value of its 80% stake by £39m – the private equity firm’s largest writedown. ...
For sale: Co-op Bank looks for buyers image
Source : Guardian [Read Article] Monday 13th of February 2017 08:05:49 AM
....Amid persistent speculation over its long-term future, the loss-making bank said its board had decided to look for buyers, as well as look at other ways of bolstering its financial position. Speculation about potential buyers immediately focused on private equity houses or so-called challenger banks such as TSB, owned by Sabadell of Spain, Clydesdale and Yorkshire Bank, Virgin Money, and Santander. ...
L'Oréal confirms it is considering selling   The Body Shop as profits fall image
Source : Guardian [Read Article] Thursday 9th of February 2017 06:12:47 PM
....The world’s largest cosmetics company said it had not made any decision on the future of the Sussex-based retailer, which has more than 3,000 stores in 66 countries, but had “decided to explore all strategic options” in order “to give it the best opportunities and full ability to continue its development”. The announcement confirms reports earlier this week that L’Oréal had appointed bankers to examine a sale of The Body Shop with some private equity suitors already interested. ...
Devil-may-care investors fall under spell of Trump-mania image
Source : Guardian [Read Article] Thursday 9th of February 2017 02:31:01 PM
....75tn) junk bond market? Except we know that when this happens, it is a house of cards that will collapse with horrible consequences for all. To emphasise the point, there are even early signs of junk-rated businesses using cheap lending facilities to borrow more money and use it to enrich their private equity owners, a move that evokes the worst behaviour before the 2008 crash. ...
Shell sells more than half of its North Sea oil and gas fields for $3.8bn image
Source : Guardian [Read Article] Tuesday 31st of January 2017 01:10:31 PM
....6m severance payment, and Shell also doubled her pension pot to almost $25m, prompting criticism from shareholder groups. Now she will become chair of private equity-backed oil group Chrysaor after it snapped up the package of oil fields put up for sale by Shell. ...
Weetabix warns it may raise prices due to fall in pound since Brexit vote image
....Unilever’s decision to raise the price of Marmite by 10% last October led to a dispute with Tesco and predictions of further price increases this year. Weetabix, an 85-year-old brand that includes cereals and breakfast drinks, was taken over by Bright Food in 2012, when the Chinese state-owned company bought a controlling stake from private equity firm Lion Capital. ...
Bernie Ecclestone, Sir Martin Sorrell and executives to reap $40m in F1 selloff image
....Bernie Ecclestone and Sir Martin Sorrell, two of Europe’s most well-known businessmen, are among a handful of executives to have reaped a $40m payoff from the sale of Formula One (F1) auto racing to US media conglomerate Liberty Media. On Monday, Liberty closed its $8bn takeover of F1’s parent company Delta Topco, which was controlled by the private equity firm CVC. ...
Sainsbury's chairman sanctioned for using staff to work on country home image
Source : Guardian [Read Article] Monday 23rd of January 2017 07:00:26 AM
....The revelation will be highly embarrassing for Tyler who has extensive board level experience and is currently also chairman of Hammerson, the listed shopping centre developer, and on the board of Domestic & General warranty group. He was previously chairman of Logica, the IT and management consultancy, as well as private equity firm 3i and for many years was finance director of GUS, the former Argos to Burberry group. ...
Formula One pulled a fast one on the US taxman – and it's all perfectly legal image
....7bn of revenue in 2015. Delta Topco has been owned by the private equity firm CVC since 2006 and over that time it has made more than $5bn of Ebitda. ...
Pearson profit warnings wipe almost £2bn off its value image
Source : Guardian [Read Article] Wednesday 18th of January 2017 09:30:18 AM
....2bn for Pearson and would mark the final exit from its once-considerable non-education publishing empire, which previously included the Financial Times and a 50% stake in the publisher of the Economist. Bertlesmann, which owns 53% of Penguin Random House, said it was keen to increase its stake to as much as 75% with a further investor such as a private equity firm likely to take the remaining stake. ...
Can a $26m-a-year fund manager really rethink executive pay? image
Source : Guardian [Read Article] Tuesday 17th of January 2017 07:00:32 AM
....This expertise in index-tracking – known as passive investment – helped it win business in 2016, when it attracted $202bn of new funds. BlackRock was launched in 1988 when Fink and seven others set about creating a fund management house that specialised in investing in bonds, with the support of the Blackstone private equity firm. ...
Water, water everywhere: utility firms get green light to sell beyond local regions image
.... Customers in the south-west pay more than £540 a year, while those in the Severn Trent area pay £333. Many of the UK’s water companies are now owned by private equity or foreign investment funds, which bought the businesses because they provide steady profits. ...
Radio Times owner bought by German media group Hubert Burda image
Source : BBC [Read Article] Thursday 12th of January 2017 02:52:22 PM
....The publisher of the Radio Times and Top Gear magazine, Immediate Media, has been bought by German company Hubert Burda Media. Hubert Burda, which bought the group from UK private equity firm Exponent, said they had agreed not to disclose financial details of the transaction. ...
Parody-defying World Economic Forum must do better image
Source : Guardian [Read Article] Wednesday 11th of January 2017 07:33:53 PM
.... In the jargon, the business is merely operationally geared – it has slow periods, as now, but coins it when the London market revs up. As long as the company doesn’t take on silly levels of debt (a lesson learned the hard way by one-time private equity owner BC Partners), it’s just a question of waiting. ...
Basic shop disciplines deliver Morrisons a merrier Christmas image
Source : Guardian [Read Article] Tuesday 10th of January 2017 03:13:19 PM
. Thank goodness Morrisons never succumbed to the briefly fashionable, but always absurd, idea that shareholders should flog the freehold-rich company to a crew of private equity barons to conduct a salvage operation. ...
McDonald's agrees China franchise sale image
Source : BBC [Read Article] Monday 9th of January 2017 06:40:00 AM
....McDonald's has agreed to sell 80% of its business in China and Hong Kong, as part of plans to franchise more of its restaurants worldwide. China's state-owned investment group Citic, and US private equity firm Carlyle Group, will take control of the operations in a deal valued at $2. ...
Jamie Oliver to close six restaurants in 'tough market' after Brexit vote image
....8m to £2. 3m due to fees from a failed process to bring in private equity backing. ...
Japanese company to buy UK's second biggest tyre supplier for £215m image
Source : Guardian [Read Article] Thursday 5th of January 2017 02:36:45 PM
....Japanese firms’ appetite for British takeovers looks set to continue into 2017, as Sumitomo Rubber Industries agreed a £215m deal to buy Micheldever Tyre Services (MTS), the UK’s second largest car tyre distributor. Micheldever, based in the picturesque Hampshire village of the same name, is owned by private equity group Graphite Capital, which has previously sold Maplin Electronics and Paperchase. ...
Ascential to sell Drapers and Nursing Times as it ditches 'heritage' brands image
....At the time Ascential said it intended to close the print editions of its titles over a two-year period as part of a focus on digital publishing and events associated with the magazine brands. In 2015, Ascential sold Media Business Insight, a subsidiary which publishes industry magazines Broadcast and Screen International and also owns brands Shots, ALF and BRAD, to management in a £10m-plus deal backed by private equity. ...
Pension expert call for scrutiny over Sports Direct sale of Dunlop image
Source : Guardian [Read Article] Thursday 29th of December 2016 07:59:07 PM
.... The group was technically insolvent, with more liabilities than assets but the accounts state that Dunlop Slazenger remained a going concern as working capital was financed by Sports Direct. Sports Direct’s founder and major shareholder, Mike Ashley, acquired Dunlop Slazenger for an estimated £40m in 2004 from Royal Bank of Scotland – which had taken control of the struggling business from its private equity-backed owners. ...
Sports Direct sells Dunlop for $137m image
Source : Guardian [Read Article] Tuesday 27th of December 2016 12:58:13 PM
....Sumitomo Rubber Industries confirmed that it will acquire the trademark rights of the Dunlop brand overseas, as well as its sporting goods and licensing businesses. Sports Direct’s founder and major shareholder, Mike Ashley, acquired Dunlop Slazenger for an estimated £40m in 2004 from Royal Bank of Scotland – which had taken control of the struggling business from its private equity-backed owners – three years before he floated his sportswear retail chain on the stock exchange. ...
Canadian packaging firm buys up £5 note supplier image
Source : Guardian [Read Article] Tuesday 20th of December 2016 09:07:15 AM
.... The £5 note triggered outrage among vegetarians and vegans after the Bank admitted it contains tallow. The CCL chief executive, Geoffrey Martin, said the takeover, agreed with Innovia’s UK private equity owners, would propel the company into top spot in the fast-growing market for polymer banknotes. ...
Lloyds snaps up MBNA for £1.9bn image
Source : Guardian [Read Article] Tuesday 20th of December 2016 08:10:43 AM
....MBNA – one of the UK’s largest credit card issuers, with 7 million customers including its own brands and the official cards of several major football clubs – has been on the market for some time. Lloyds had been battling against US private equity group Cerberus, HSBC and Santander UK for the operation. ...
Plastic £5 note firm Innovia bought by Canada's CCL image
Source : BBC [Read Article] Tuesday 20th of December 2016 07:43:04 AM
....13bn Canadian dollars (£680m). Innovia, owned by a group of UK private equity investors, makes most of the polymer banknotes around the world. ...
Lloyds Bank buys MBNA credit card firm for £1.9bn image
Source : BBC [Read Article] Tuesday 20th of December 2016 07:29:36 AM
....MBNA, which operates primarily online and through mobile, would continue to have its own rates, separate from Lloyds credit cards, after the deal was done, a Lloyds spokesman said. There were several other interested parties in the MBNA business, including Santander and private equity firm Cerberus. ...
Radio Times likely to be bought by German media group image
Source : Guardian [Read Article] Monday 19th of December 2016 05:57:07 PM
.... The deal is potentially worth as much as £275m. Immediate Media, which is owned by UK private equity company Exponent, publishes about 60 magazines and digital brands including 220 Triathlon and You and Your Wedding. ...
Pensions Regulator fires BHS warning shot with £255m Coats Group deal image
Source : Guardian [Read Article] Friday 16th of December 2016 05:47:42 PM
....It also emerged on Friday that Green is working on plans to open as many as 80 Topshop stores across China. Green owns Topshop alongside the US private equity firm Leonard Green. ...
RAC’s breakdown in trust as charity gets a £6,000 bill image
Source : Guardian [Read Article] Saturday 10th of December 2016 07:00:07 AM
....In 2014 Guardian Money first highlighted the high cost of RAC batteries, running several letters from readers who claimed they had been over-charged – on top of the membership fees they were already paying. The RAC was bought by private equity firm Carlyle for £1bn in 2011. ...

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