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....BT sold the Yellow Pages for £2. 1bn in 2001 to private equity companies, subsequently launching a new telephone service and bringing the number of Yellow Pages published to 102. ... [Read full article on Guardian ]
Friday 1st of September 2017 06:21:38 PM
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....Although al-Tuwaijri said he had a “crystal clear idea” of the privatisation strategy, not everybody has such a good view of the road ahead. Questions remain on the motivation for the plan, the legal and regulatory structures that will govern it, and the form the sell-offs will take: IPOs, private equity deals, or trade sales to non-Saudis. ... [Read full article on Guardian ]
Saturday 2nd of September 2017 03:00:17 PM
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.... The sector is expanding across England, with 80,855 homes either completed or planned, according to recent official figures. Angus Dodd, the chief executive of Quintain, which was acquired by US private equity firm Lone Star in 2015, said the company decided to switch from building for sale to building homes for rent because it provided a reliable long-term income stream, in contrast to the ups and downs of the traditional housebuilding cycle. ... [Read full article on Guardian ]
Thursday 14th of September 2017 05:00:33 AM
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....“I have watched the development and growth of Vue International with great interest and am excited to be joining the group to play an active role in furthering their future ambitions,” said Crozier, who takes up his new role with immediate effect. Vue is owned by two of Canada’s largest pension funds – Omers Private Equity and Alberta Investment Management – which acquired the group from UK-based private equity investor Doughty Hanson for £935m in 2013. ... [Read full article on Guardian ]
Wednesday 13th of September 2017 05:00:03 AM
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....”. The recent woes of Toys R Us, which is the only dedicated toy chain left in America, took root more than a decade ago when the retailer was taken over by a consortium of private equity firms. ... [Read full article on Guardian ]
Saturday 16th of September 2017 11:04:25 PM
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.... He was heavily criticised by the Treasury select committee in 2010 when it was revealed he did not know how many of his staff were paid more than him. Since leaving Lloyds, Daniels has taken on a string of jobs in the City, including at peer-to-peer lender Funding Circle, Mayfair-based investment bank StormHarbour and private equity firm CVC Capital Partners. ... [Read full article on Guardian ]
Tuesday 22nd of August 2017 11:22:18 AM
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....The bid surpasses the 1. 9tn yen offered by the Western Digital-led consortium, which also includes the US private equity company KKR & Co. ... [Read full article on Guardian ]
Thursday 31st of August 2017 12:02:06 PM
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....A husband and wife who started in fashion retail with one shop in Wimbledon 30 years ago have banked £400m after selling their online designer empire Matchesfashion. com to private equity investors. ... [Read full article on Guardian ]
Friday 1st of September 2017 06:44:40 PM
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.... While the Dodd-Frank financial reform requirements mean that the largest banks can correctly claim that they have offloaded risky assets and bolstered the amount of cash on their balance sheets, lending to real businesses is still a small fraction of what they do. Meanwhile, the shadow banking sector (which is not subject to similar regulation) has grown dramatically, with private equity and hedge funds snapping up assets on the cheap in the wake of the financial crisis, when few others had the cash on hand to buy (Blackstone, whose CEO Steve Schwarzman is close to the president, has become the largest owner of single family homes in America). ... [Read full article on Guardian ]
Thursday 14th of September 2017 01:57:39 PM
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....45m bonus for 2010 pared back to £300,000. As tends to be par for the course, Daniels subsequently picked up a portfolio of new jobs: here a role with a boutique investment bank, there a non-executive directorship with a private equity firm. ... [Read full article on Guardian ]
Tuesday 22nd of August 2017 12:21:30 PM
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Latest Finance News related to Private Equity

Crisis in Toyland: how the shift online places our childhood favourites in peril image
....”. The recent woes of Toys R Us, which is the only dedicated toy chain left in America, took root more than a decade ago when the retailer was taken over by a consortium of private equity firms. ...
The financial system is still blinking red. We need reform more than ever | Rana Foroohar image
.... While the Dodd-Frank financial reform requirements mean that the largest banks can correctly claim that they have offloaded risky assets and bolstered the amount of cash on their balance sheets, lending to real businesses is still a small fraction of what they do. Meanwhile, the shadow banking sector (which is not subject to similar regulation) has grown dramatically, with private equity and hedge funds snapping up assets on the cheap in the wake of the financial crisis, when few others had the cash on hand to buy (Blackstone, whose CEO Steve Schwarzman is close to the president, has become the largest owner of single family homes in America). ...
Build-to-rent – the solution to Britain's housing crisis? image
Source : Guardian [Read Article] Thursday 14th of September 2017 05:00:33 AM
.... The sector is expanding across England, with 80,855 homes either completed or planned, according to recent official figures. Angus Dodd, the chief executive of Quintain, which was acquired by US private equity firm Lone Star in 2015, said the company decided to switch from building for sale to building homes for rent because it provided a reliable long-term income stream, in contrast to the ups and downs of the traditional housebuilding cycle. ...
Ex-ITV chief Adam Crozier appointed as Vue International chair image
Source : Guardian [Read Article] Wednesday 13th of September 2017 05:00:03 AM
....“I have watched the development and growth of Vue International with great interest and am excited to be joining the group to play an active role in furthering their future ambitions,” said Crozier, who takes up his new role with immediate effect. Vue is owned by two of Canada’s largest pension funds – Omers Private Equity and Alberta Investment Management – which acquired the group from UK-based private equity investor Doughty Hanson for £935m in 2013. ...
The great Saudi sell-off: why bankers and lawyers are flocking to the Gulf image
Source : Guardian [Read Article] Saturday 2nd of September 2017 03:00:17 PM
....Although al-Tuwaijri said he had a “crystal clear idea” of the privatisation strategy, not everybody has such a good view of the road ahead. Questions remain on the motivation for the plan, the legal and regulatory structures that will govern it, and the form the sell-offs will take: IPOs, private equity deals, or trade sales to non-Saudis. ...
Husband and wife bank £400m from sale of Matchesfashion.com image
Source : Guardian [Read Article] Friday 1st of September 2017 06:44:40 PM
....A husband and wife who started in fashion retail with one shop in Wimbledon 30 years ago have banked £400m after selling their online designer empire Matchesfashion. com to private equity investors. ...
Yellow Pages to stop printing from January 2019 image
Source : Guardian [Read Article] Friday 1st of September 2017 06:21:38 PM
....BT sold the Yellow Pages for £2. 1bn in 2001 to private equity companies, subsequently launching a new telephone service and bringing the number of Yellow Pages published to 102. ...
Apple joins consortium in revised £14bn bid for Toshiba's chip business image
Source : Guardian [Read Article] Thursday 31st of August 2017 12:02:06 PM
....The bid surpasses the 1. 9tn yen offered by the Western Digital-led consortium, which also includes the US private equity company KKR & Co. ...
UK is briefly in the black – but fixing the public finances will take time | Larry Elliott image
....45m bonus for 2010 pared back to £300,000. As tends to be par for the course, Daniels subsequently picked up a portfolio of new jobs: here a role with a boutique investment bank, there a non-executive directorship with a private equity firm. ...
Former Lloyds boss Eric Daniels sues bank for withheld bonuses image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 11:22:18 AM
.... He was heavily criticised by the Treasury select committee in 2010 when it was revealed he did not know how many of his staff were paid more than him. Since leaving Lloyds, Daniels has taken on a string of jobs in the City, including at peer-to-peer lender Funding Circle, Mayfair-based investment bank StormHarbour and private equity firm CVC Capital Partners. ...
Learndirect blames government cuts for damning Ofsted report image
Source : Guardian [Read Article] Thursday 17th of August 2017 09:24:49 AM
....”. Learndirect is 65%-owned by Lloyds Development Capital, the private equity arm of Lloyds Bank. ...
Learndirect owners still winning government-approved contracts image
Source : Guardian [Read Article] Wednesday 16th of August 2017 09:27:48 PM
....The owners of Learndirect are continuing to win government-approved apprenticeship contracts despite their original company failing to meet the government’s minimum standards. The private equity owners of Learndirect Limited, which is expected to be given the lowest possible grade by the education watchdog Ofsted and to lose all its Department for Education contracts, created Learndirect Apprenticeships Limited, which has gone on to win contracts to train about 3,000 people. ...
Nokia 8 hopes to beat Apple and Samsung with 'bothie', a new version of the selfie image
....3-inch screen. Nokia handsets are being revived by HMD Global, a private equity-backed firm led by former employees of the Finnish company. ...
Department for Education pulls all Learndirect contracts and funding image
Source : Guardian [Read Article] Tuesday 15th of August 2017 07:03:32 PM
....The Department for Education said on Tuesday that it would withdraw all funding from the organisation, which is responsible for almost 73,000 trainees, by July 2018 and that it had already banned it from taking on new apprentices. Learndirect, which was privatised by David Cameron’s coalition government in 2011 and is majority-owned by the private equity arm of Lloyds Bank, has said it could collapse into administration if the DfE withdrew its funding, which was worth £158m in the year to July 2017. ...
Ten years after the crash, there’s barely suppressed civil war in Britain | Aditya Chakrabortty image
.... The chairman of Northern Rock, Matt Ridley, can now be found in the Times chirruping about the virtues of the free market; the Eton-educated viscount spends rather fewer column inches on his past helming one of the biggest-ever recipients of state support. Its former chief executive Adam Applegarth is in private equity. ...
US firm Vantiv to buy British rival Worldpay for £9.3bn image
Source : Guardian [Read Article] Wednesday 9th of August 2017 01:55:20 PM
....Sir Michael Rake, chairman of BT and former Barclays deputy chairman, will continue at the merged group in the role of lead director, the US equivalent of a senior independent director in the UK. Launched in 1989, Worldpay was previously owned by Royal Bank of Scotland, which sold the business in 2010 to private equity firms Advent and Bain Capital as part of the terms of the bank’s 2008 taxpayer bailout. ...
British cycling brand Rapha sold to Walmart heirs for £200m image
Source : Guardian [Read Article] Monday 7th of August 2017 06:05:09 PM
....British upmarket cycling brand Rapha has been sold to two heirs of the Walmart dynasty for £200m. Rapha, founded by branding consultant and lifelong cyclist Simon Mottram in 2004, announced on Monday that it had been sold to RZC Investments, a private equity firm run by Steuart and Tom Walton. ...
'Disgusting and astonishing': how do the UK's top 1% view tax avoidance? image
.... But the fact the UK allows its territories to openly flout international tax transparency principles is astonishing. The industry I work in, private equity, is built around the use of legal tax planning to avoid the payment of taxes, and around the classification of executives’ performance-related compensation as capital gains [profit from an asset] rather than income. ...
Private equity houses offer £3bn for payments processor Paysafe image
Source : Guardian [Read Article] Friday 21st of July 2017 01:46:49 PM
. The scramble to capitalise on the growing trend to shop online is continuing after the payments processor Paysafe received a near-£3bn bid from a private equity consortium eager to gain access to the fast-growing sector. ...
Fit for an oligarch: school for the super-rich opens in London's Mayfair image
.... The co-ed school roll will eventually number 450 and the building is currently undergoing a £5. 2m conversion – backed by private equity funding – into what might be the most fancily located school in the world. ...
Bar and restaurant chains scale back UK expansion as costs rise image
Source : Guardian [Read Article] Tuesday 11th of July 2017 04:52:05 PM
.... Nearly 30% more said they expected adverse affects this year. She said uncertainty about the future as the UK negotiates its exit from the EU was making it difficult for the many chains backed by foreign private equity money to plan ahead. ...
Indie brewers fight back in bitter row over beer brands' craft credentials image
....Self-declared “punk” beer brand Brewdog, credited by many with putting rocket burners under the UK’s craft beer scene, barked the loudest, pointedly removing Camden from the menu of its network of bars. Just a few months later the Scottish brewer’s own craft credentials were called into question, first via a social media backlash against its legal pursuit of smaller companies and then by its acceptance of a sizeable private equity investment. ...
Camden Town Brewery founder insists big can also be beautiful image
Source : Guardian [Read Article] Saturday 8th of July 2017 03:00:11 PM
.... It joins fellow craft brewers Camden and Meantime, which now belongs to Japan’s Asahi, in foreign ownership. In April, BrewDog founders James Watt and Martin Dickie sold a minority stake to a private equity firm for just over £200m – despite pulling Camden’s beers from its bars when the AB InBev deal was announced. ...
Worldpay buyout by Vantiv reignites debate over foreign takeovers image
Source : Guardian [Read Article] Wednesday 5th of July 2017 03:04:35 PM
....Launched in 1989, Worldpay provides the technology that allows retailers and other business to accept card payments and online or mobile transactions. It was previously owned by Royal Bank of Scotland, which sold the business in 2010 to private equity firms Advent and Bain Capital as part of the terms of the bank’s 2008 taxpayer bailout. ...
£8bn battle looms for credit card processor Worldpay as rivals circle image
....5bn and pre-tax profits leaping to £264m from £19m in 2015. Previous owner Royal Bank of Scotland sold the business in 2010 under the terms of the bank’s 2008 British taxpayer bailout, with private equity firms Bain Capital and Advent International taking control. ...
FCA knows its scrutiny of the investment sector has only just started | Nils Pratley image
....Yet one gets a strong sense that the FCA, having lifted the lid on an industry that has escaped scrutiny for too long, knows its work has only just started. The list of other financial players scheduled for investigation is also long: investment consultants, fund platforms such as Hargreaves Lansdown (whose profit margins can be as high as 70%), hedge funds and the private equity brigade. ...
FCA says UK's £7tn asset management industry needs radical reform image
Source : Guardian [Read Article] Wednesday 28th of June 2017 07:28:17 AM
.... But it is recommending that the Treasury gives it powers to regulate the sector. It also appeared to prepare the ground to look at private equity and hedge funds. ...
Italy's €17bn bank job: self-preservation at a long-term EU price? | Nils Pratley image
....Fridman’s L1 outfit has Clive Humby, the data guru behind Tesco’s Clubcard scheme, on its team, so maybe there are clever ways to improve Holland & Barrett’s current loyalty programme. All the same, the biggest winner here is surely the seller, private equity house Carlyle. ...
Holland & Barrett sold to Russian billionaire for £1.8bn image
Source : Guardian [Read Article] Monday 26th of June 2017 07:53:35 AM
....8bn by a retail investment fund controlled by Russian billionaire Mikhail Fridman. L1 Retail, a division of the tycoon’s LetterOne holding company, purchased the retailer from its parent firm, Nature’s Bounty, which is owned by the private equity firm Carlyle. ...
Qatar and the UK image
Source : BBC [Read Article] Friday 9th of June 2017 04:51:11 AM
.... . But the manner in which Barclays raised the funds is being scrutinised by two UK regulators, the Financial Conduct Authority and the Serious Fraud Office, and there is a separate lawsuit in which the private equity company PCP Partners is claiming £700m from Barclays in allegedly unpaid fees. ...
Advertisers should follow Vodafone's lead after Facebook and Google failures | Nils Pratley image
.... Then came Shawbrook’s confidence-rattling revelation of lending “irregularities” in one division. In the circumstances, you might have expected the board to embrace the takeover approach from Pollen Street, already a 38% owner, plus fellow private equity house BC Partners. ...
Arora brothers cash in £227m of shares from B&M retail chain image
Source : Guardian [Read Article] Friday 2nd of June 2017 12:13:31 PM
....Two brothers who built B&M into a national discount chain selling everything from curtain to biscuits, have cashed in nearly £230m of shares in the fast-growing business – taking their total proceeds from the business since it floated to nearly £1bn. The latest share sale, which cut the Arora brothers’ stake to 15% from about 21%, was part of a placing alongside B&M’s private equity backer, Clayton, Dubilier & Rice, which also sold about £227m of shares. ...
Selling up or selling out? image
Source : BBC [Read Article] Wednesday 31st of May 2017 11:18:14 PM
....It also said it would stop selling Camden beer at its BrewDog pubs, because it didn't want to put money in Ab InBev's pockets. But in April this year BrewDog raised a few eyebrows when it sold a minority stake to US private equity firm TSG Consumer Partners for £213m. ...
UK policymakers face a dilemma over public's slowing demand for credit image
Source : Guardian [Read Article] Wednesday 31st of May 2017 07:17:49 PM
.... They pay lots of tax due on those bonus shares – in this case £70m – which they will cover by selling a few of those shares. But so much more money might have found its way into the companies owned by Melrose if only it didn’t, like a private equity firm, see itself as a vehicle for extracting value and handing it to shareholders. ...
G4S rejoins FTSE 100 as Debenhams drops out of FTSE 250 image
Source : BBC [Read Article] Wednesday 31st of May 2017 05:56:36 PM
....Also moving into the FTSE 250 are: IT services company FDM Group; hedge fund Pershing Square Holdings; fertiliser company Sirius Minerals; and the Georgian TBC Bank Group. Leaving the FTSE 250 along with Debenhams and AO World are: the intellectual property group, Allied Minds; investment specialist, BH Macro; engineering business Keller; and private equity firm SVG Capital. ...
Whole Foods represents the failures of 'conscious capitalism' | Nicole Aschoff image
....3% of the company’s shares and demanding an overhaul. Whole Foods responded by reshuffling its board, bringing in a handful of big box retail stars and promoting Gabrielle Sulzberger, who hails from private equity, to chairwoman. ...
Edinburgh Woollen Mill acquires Jaeger brand in plan for new chain image
Source : Guardian [Read Article] Sunday 28th of May 2017 04:46:27 PM
....The companies, which include the Portuguese clothing supplier Calvelex, tried to mount a rescue bid after Jaeger entered administration last month but found they could not buy the business because the rights to use the name had been sold. Asked about the threat of legal action, Jon Moulton, the boss of Jaeger’s former owner Better Capital, said at the time the private equity firm had gone to great lengths to find a buyer for Jaeger without putting it into insolvency. ...
UK's biggest solar company takes shine to global projects with deals worth £3bn image
....The expertise the company built in the UK, where it fitted panels on 90,000 homes, has proved crucial in winning contracts abroad, he said. Solarcentury recently reached a major deal with Panama-based private equity investor ECOSolar, which takes its international pipeline of solar projects to 3,400MW, equivalent of three conventional power stations. ...
Student housing tempts wealthy investors image
Source : Guardian [Read Article] Friday 26th of May 2017 05:08:32 PM
....“They have seen how much others have made from student housing and want to join them,” Pullan said. “More than 70% of investment is coming from overseas buyers, from sovereign wealth funds and ultra high net worth individuals [people with investable assets of more than $30m] and private equity. ...
Not just Bitcoin... image
Source : BBC [Read Article] Wednesday 24th of May 2017 09:07:22 AM
....Industry members say some companies may be buying up Bitcoin to deploy in the event of a future attack, but they maintained that broader demand is driving price gains. "There's a number of people from family offices [and] private equity firms - they're making small bets and when you add that type of liquidity to the market, that's going to drive the price up," says Mr Crosby. ...
Jaeger suppliers owed millions consider legal action against ex-owners image
.... Several thousand retail jobs are at risk as Store Twenty One, the value fashion chain, and the owner of clothing brands Jacques Vert, Windsmoor and Eastex face a financial crunch. Jaeger was owned by Jon Moulton’s private equity firm Better Capital for five years. ...
Church of England fund sees 'stellar' returns image
Source : BBC [Read Article] Sunday 21st of May 2017 06:34:39 PM
.... . The Church Commissioners said the performance had been partly driven by the drop in the pound following the Brexit vote, but said strong returns from its investments in global equities, private equity and timber had been "equally helpful". ...
Labour's water renationalisation plan is a damp squib | Nils Pratley image
Source : Guardian [Read Article] Tuesday 16th of May 2017 07:34:13 PM
....4% is not the worst trade in the world. And the state, if it wanted to act like a supercharged private equity house, would be able to juice up returns by refinancing the companies’ debt at a lower rate. ...
Adidas finds buyer for its golf unit image
Source : BBC [Read Article] Thursday 11th of May 2017 07:22:31 AM
....KPS Capital Partners will be hoping that it has bought into golf at the bottom of the market. It is a private equity firm, which has previously specialised in buying manufacturing firms. ...
Staley might be right: UK immigration policy could be key to City's future | Nils Pratley image
.... But it seems it hasn’t yet learned about our stock market. The company, owned by the UK private equity firm Bridgepoint, is planning a flotation in New York. ...
Pret a Manger considers putting New York IPO on the menu image
Source : Guardian [Read Article] Wednesday 10th of May 2017 02:23:58 PM
....The owner of Pret a Manger is reportedly exploring a listing on the New York stock exchange, as it eyes up expansion in the $41bn (£32bn) a year US coffee shop market. Bridgepoint, the UK-based private equity firm, is thought to be considering a flotation with JP Morgan and Jefferies as lead advisers. ...
Private equity bids $2.5bn for Sydney Morning Herald owner image
. The owner of Australian newspapers including the Sydney Morning Herald is in takeover talks with a North American private equity consortium. ...
Rich List 2017: UK's super-rich carry on making billions image
Source : BBC [Read Article] Sunday 7th of May 2017 12:04:04 AM
.... . "More women, more people from ethnic backgrounds, and more from surprising walks of life, with egg farmers and pet food makers lining up with hedge fund managers and private equity barons. ...
The Great Recession hurt millions. Now, Republicans want to risk a repeat | Keith Ellison image
....In 2008, the world economy crashed because a bunch of large financial institutions acted irresponsibly. These banks, investment firms, mortgage lenders and private equity fund suckered people into terrible loans and investments, and then engaged in reckless speculation – all to help their bottom line. ...
Voices of the 1%: how do Britain's highest earners feel about their income? image
....20 an hour. However, the pay of chief executives is likely to be eclipsed by those working in hedge funds, private equity and the partners of accountancy and law firms. ...
If Barclays CEO is shown the door, let it be for the right reason | Nils Pratley image
....The chronology is messy, naturally. Staley’s wife banked $160m (£124m) when private equity giant KKR bought Aceco in a $700m deal in 2014. ...
Barclays chief clashes with private equity firm over family dispute image
. Barclays boss Jes Staley has incurred the wrath of one of the bank’s most powerful clients, private equity giant KKR, after backing his brother-in-law in a legal dispute with the buyout house. ...
UK holiday parks hope for staycation boom as pound slides image
Source : Guardian [Read Article] Tuesday 2nd of May 2017 06:01:20 AM
....”. Holiday park firms have become the subject of a flurry of private equity deals, with robust growth and solid revenues catching the eye of investors. ...
Hundreds of IT contractors left unpaid as payroll company ceases trading image
.... Plutus tried to undercut competitors by offering no-fee payroll management services. It was bought last year by a private equity firm, Synep. ...
Cycling fashion outfit Rapha plots route into the fast lane image
Source : Guardian [Read Article] Monday 1st of May 2017 01:44:14 PM
.... It resulted in an unusual set-up with Mottram owning just 12. 5% and the remainder shared among a group that includes the private equity firm Active, which has 20%. ...
21st Century Fox 'in talks' to buy television station group Tribune Media image
. 21st Century Fox is in talks with private equity giant Blackstone to buy Tribune Media, one of America’s largest television station operators, sources familiar with the matter have said. ...
Will Canada's Tim Hortons win over UK coffee fans? image
Source : Guardian [Read Article] Sunday 30th of April 2017 05:31:04 AM
....There is a twist to this all-Canadian tale. Tim Hortons is owned by Burger King parent Restaurant Brands International (RBI), which is located in Canada but controlled by an ownership structure of Brazilian private equity group 3G and US investment firm Berkshire Hathaway. ...
Hard times for Whole Foods: 'People say it's for pretentious people. I can see why' image
....An acquisition would underscore the consolidation of the US food retail industry as the sector prepares to compete against online retailers including Amazon, stores like Walmart and discount chains such as Aldi. Earlier this week, the Financial Times reported that Cerberus Capital Management, the New York private equity firm that owns Albertsons and Safeway, had initiated talks with bankers about making a bid. ...
Pret a Manger tries to woo British workers as Brexit looms 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. ...

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