Charterhouse sale sees low interest
UK buyout house Charterhouse may pull out of two of Europe’s largest private equity disposals due to a lack of interest. Only one planned bid, led by BC Partners and Ontario Teachers’ Pension Plan, has emerged for German metering firm Ista.
ENRC hit by whistleblower claim
ENRC has suspended one of its managers in Africa due to whistleblower allegations of impropriety in the latest blow to the FTSE 100 miner. The manager in Mozambique has been suspended pending the outcome of an investigation.
Axa to stop offering financial advice
Axa UK is cutting about 450 jobs as it stops offering face-to-face financial advice across bank branches this year. It had offered advice in the Co-operative bank and the Yorkshire and Clydesdale for more than a decade.
De Vere opens doors for sale
Britain’s biggest operator of conference and training centres will be put up for sale today with an estimated price tag of up to £300m. It is understood that De Vere Group has appointed Lazard to advise it on a possible sale of its De Vere Venues business to help to reduce its £1.1bn debt burden. De Vere Venues has 30 centres, half of them freeholds or long leaseholds, with a total of about 3,000 bedrooms.
The Daily Telegraph
Putin warns on Russia recession risk
Mounting signs of a global economic slowdown have prompted Russian president Vladimir Putin to order a special meeting of the nation’s top economists. Mr Putin warned “the global crisis is obtaining ever more dangerous contours that will inevitably impact us, too”, as he instructed PM Dmitry Medvedev to convene an enlarged group of Kremlin and government advisers.
THE WALL STREET JOURNAL
Penney Buys Time With Credit Line
JC Penney has drawn $850m from its $1.85bn revolving credit facility to fund operating needs, buying time for the new CEO to reverse sagging sales while it looks for ways to raise additional capital.
AmEx promotes Gilligan to president
American Express has promoted Vice Chairman Edward Gilligan to president.