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....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. ... [Read full article on Guardian ]
Thursday 23rd of March 2017 07:39:45 PM
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.... 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. ... [Read full article on Guardian ]
Wednesday 22nd of March 2017 05:41:07 PM
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....Formula 1 is under new ownership. Control has passed from private equity firm CVC Capital Partners to the US group Liberty Media. ... [Read full article on BBC ]
Friday 24th of March 2017 12:07:35 AM
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....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. ... [Read full article on Guardian ]
Friday 24th of March 2017 10:12:57 AM
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....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. ... [Read full article on Guardian ]
Monday 20th of March 2017 03:41:50 PM
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Latest Finance News related to Private Equity

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. ...
Coke names new CEO with focus on reducing sugar and calorie counts image
Source : Guardian [Read Article] Friday 9th of December 2016 07:56:00 PM
....“Those counting on an eventual bid someday from 3G Capital and Budweiser for Coke may think Berkshire Hathaway being out of the picture would make it less awkward for that group to buy Coke,” Susquehanna analyst Pablo Zuanic said in a note. Buffett teamed up with Brazilian private equity firm 3G Capital last year to buy Kraft and form Kraft Heinz. ...
Andrew Puzder criticized as 'cruel and baffling' choice for labor secretary image
Source : Guardian [Read Article] Thursday 8th of December 2016 09:32:44 PM
....CKE is a privately held company. In 2013 the company was acquired by Roark Capital Group, an Atlanta-based private equity firm named for Howard Roark, the leading protagonist in Ayn Rand’s novel The Fountainhead. ...
Daily Mail group refuses to rule out sale of newspaper titles image
Source : Guardian [Read Article] Thursday 1st of December 2016 10:05:25 AM
....”. He added that DMGT’s move earlier this year to enter talks with private equity companies interested in bidding for Yahoo pointed to the potential for a strategic deal to boost Mail Online in the US. ...
Mnuchin promises to boost US growth as Treasury boss image
Source : BBC [Read Article] Wednesday 30th of November 2016 02:21:46 PM
....He said the US could "absolutely" achieve a 3%-4% growth rate, one of Donald Trump's key pledges. Mr Mnuchin, 53, whose father also worked at Goldman Sachs, is relatively unknown as a public figure, despite building a career as a successful private equity investor and Hollywood financier. ...
Steve who? image
Source : BBC [Read Article] Wednesday 30th of November 2016 01:23:09 PM
.... . Mr Mnuchin returned to banking during the financial crisis, gathering a group of investors including hedge fund bigwigs George Soros and John Paulson, private equity investor Christopher Flowers and computer mogul Michael Dell to buy failed mortgage lender IndyMac. ...
Dunelm buys Kiddicare in online drive image
Source : BBC [Read Article] Monday 28th of November 2016 09:28:02 AM
....Morrisons also took a hefty writedown on the online seller of cots, car seats, push chairs and nappies. Kiddicare was bought by Worldstores from private equity owners in 2014, where it joined the group's portfolio of home and furniture websites. ...
JD Sports buys Go Outdoors for £112m image
Source : Guardian [Read Article] Monday 28th of November 2016 08:28:12 AM
. JD Sports has acquired retailer Go Outdoors for £112m from its private equity owners. ...
MPs expected to back regulations on privately-owned City businesses image
Source : Guardian [Read Article] Friday 25th of November 2016 08:01:10 PM
.... Other aspects of the code are designed to ensure proper scrutiny of a company’s executives and their pay, as well as to bolster accountability to shareholders. Ministers are expected to suggest the FRC also be invited to oversee governance rules for private firms, which could include well known companies such as JCB and Dyson as well as firms with large workforces that have been acquired by private equity funds, often using large amounts of borrowings. ...
Plant hire group Hewden collapses after Brexit warning image
Source : Guardian [Read Article] Tuesday 22nd of November 2016 04:52:46 PM
....“This is a sickening blow for workers in the run up to Christmas and is the result of a succession of venture capitalists hawking Hewden around the market over a number of years to make a quick buck,” said Unite national officer Bernard McAulay, who mainly represents crane operators at Hewden. The Manchester-based heavy machinery rental firm was owned by private equity firm Sun Capital Partners and in October had warned about “market uncertainty following the vote to leave the EU” which had adversely affected a number of large construction and investment projects. ...
May obscures workers-in-boardrooms U-turn with verbal gymnastics image
Source : Guardian [Read Article] Monday 21st of November 2016 02:51:29 PM
....Meanwhile, May has discovered the financial industry’s new buzzword for long-term money – “patient capital” – and acknowledged the need for more of it. But her review, to be led by the private equity tycoon Sir Damon Buffini, will presumably go over the same ground as a report commissioned by Sir Vince Cable when he was business secretary in the coalition government. ...
FTSE 100 higher but Royal Mail shares fall image
Source : BBC [Read Article] Thursday 17th of November 2016 12:45:45 PM
....5% after US billionaire Wilbur Ross sold his remaining stake in the lender. Mr Ross's private equity firm WL Ross & Co sold 53. ...
FTSE 100 climbs as retail sales beat forecasts and Anglo American rises image
Source : Guardian [Read Article] Thursday 17th of November 2016 09:57:36 AM
.... Investec said:. This increases the free-float to around 65%, leaving only Virgin Group’s 35% stake which, (rightly or wrongly), we assume to be a “quasi-permanent” investment rather than presenting a private equity style “overhang” risk. ...
Bank of Cyprus to list on London Stock Exchange image
Source : Guardian [Read Article] Tuesday 15th of November 2016 05:48:51 PM
....It was first bank in the eurozone to take a slice of customers’ savings as part of the international €10bn bailout of the island to avoid recourse to taxpayers. Hourican, who is Irish, tried to leave last year but was convinced to stay on by veteran banker Josef Ackermann, who became chairman of Bank of Cyprus in 2014 when it received a capital injection from a group international investors led by private equity billionaire Wilbur Ross. ...
RBS chairman calls on Theresa May to draw up Brexit transitional plan image
Source : Guardian [Read Article] Sunday 13th of November 2016 07:25:15 PM
....”. The cluster is a reference to the varied businesses that are based in London, such as banking, fund management and private equity, and the services that build up around them, such as accountancy and legal services. ...
The new-builds catching house buyers in a leasehold property trap image
Source : Guardian [Read Article] Saturday 29th of October 2016 06:00:12 AM
.... There is no need for there to be leasehold properties, particularly those on an estate where the properties are mainly detached houses. “They need to be banned – it may be a convenient way for developers to get extra profit from their building work, but once they get in the hands of these private equity companies the profit motive overrides any considerations that there are real people living in their homes, who are being asked to stump up eye-watering sums. ...
Biffa cuts share price to secure London listing image
Source : BBC [Read Article] Monday 17th of October 2016 07:28:39 AM
....The UK's second-largest waste management group, which employs more than 7,000 staff, announced plans for the flotation in September. The 100-year-old company has not had its shares listed on the stock market since 2008, when it was bought by a group of private equity firms. ...
Older leaseholders who fought for right to manage their block – and won image
Source : Guardian [Read Article] Saturday 15th of October 2016 06:00:07 AM
....However, the investigation was subsequently dropped and the brothers received millions of pounds in damages and an apology. The company was rescued by two private equity companies the following year in a £62m deal. ...
British shoppers told to expect price rises after steep fall in pound image
Source : Guardian [Read Article] Wednesday 12th of October 2016 01:25:27 PM
....6% last month, confounding City forecasts of a small rise in the cost of living due to imports becoming more expensive. King, who is now a vice-chairman of private equity firm Terra Firma, said: “Retailers’ margins are already squeezed. ...
William Hill in £4.5bn merger talks image
Source : BBC [Read Article] Sunday 9th of October 2016 10:52:36 AM
....A merger of the two companies could produce annual savings of up to £100m. Talks are continuing and no agreement may be reached, as private equity firms are also said to be eyeing Amaya. ...
BrightHouse admits affordability checks are hurting business model image
Source : Guardian [Read Article] Tuesday 4th of October 2016 05:54:53 PM
....”. BrightHouse, which is owned by the private equity firm Vision Capital, lodged its application for FCA authorisation in May but is still awaiting approval. ...
Leak reveals Amber Rudd's links to offshore investment funds image
Source : BBC [Read Article] Wednesday 21st of September 2016 06:41:48 PM
....The fund was licensed by the Bahamas Securities Commission and the registered agent was Citco Fund Services (Bahamas) Limited. Citco is an international company that runs services for hedge funds, private equity, real estate and fund investments. ...

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