Hambro Perks looks to be first out of the gate with £150m London SPAC listing November 23, 2021 VC firm Hambro Perks has today announced it is targeting a listing of up to £150m in London via a special purpose acquisition vehicle (SPAC), in what could make it the first out of the gate since the City watchdog overhauled blank-cheque listing rules. Hambro Perks Acquisition Company – the name of the SPAC – [...]
Union seeks urgent meeting with Unilever for ‘cast iron guarantee’ of factory workers’ futures November 19, 2021 Unite the Union has called for urgent talks with Unilever after it announced the sale of its tea business to a private equity firm. Unilever confirmed the £3.79bn sale of its tea division – including household names such as PG Tips and Lipton – to CVC yesterday following an auction process. Unite pointed to CVC’s [...]
CEO of Close Brothers asset management arm to step down November 18, 2021 Martin Andrew, the CEO of Close Brothers’ asset management arm, today announced he will step down from his role after thirteen years at the helm, to “pursue the next stage of his career.” Commenting on his departure, Andrew said: “It has been a privilege to lead CBAM and serve our clients over many years and [...]
Private equity CVC agrees £3.79bn deal for Unilever tea business November 18, 2021 Private equity firm CVC has agreed to buy Unilever’s tea arm for £3.79bn (€4.5bn), it has been announced.
FinnCap confirms its record £32m revenue on ‘exceptionally busy’ M&A market November 18, 2021 Shares in FinnCap closed 1.4 per cent higher today, after the AIM-listed tech and life sciences small cap broker confirmed the first half bumper revenue hike it had teased last month. Earnings jumped 55 per cent to a record £32m, and the firm stuck to the full-year revenue guidance it upgraded in October to between [...]
Paddy Power and Betfair owner Flutter snaps up bingo giant Tombola for £402m November 18, 2021 Paddy Power and Betfair owner Flutter Entertainment has agreed to buy UK bingo group Tombola for £402m. Tombola’s founder Phil Cronin, who set up the bingo firm 16 years ago, will leave the business after the acquisition, with himself and his family expected to net a fortune from the cash deal. Based across sites in [...]
Investec boosts guidance after profit more than doubles and sheds 15 per cent of Ninety One November 18, 2021 Investec today said its recovery continued in the first half of its new financial year, as profit more than doubled from the same period a year earlier. The FTSE 250 firm said this rebound was driven by a strong earnings recovery on increased client activity across the business and lower funding costs. As a result [...]
British Patient Capital enjoys VC bumper year and boosts startup portfolio by almost a third November 18, 2021 British Patient Capital (BPC), the venture capital subsidiary of UK government-owned British Business Bank (BBB), today announced it committed almost £300m to investing in the growth of British startups in the year to March 2021. During the pandemic-defined year, its underlying portfolio of companies increased by almost a third from 503 to 676, with three [...]
The most popular source of investment ideas for Gen Y and Z? Social media November 17, 2021 A new survey has confirmed the trends we saw during the pandemic, when retail investing became part of the zeitgeist due to a combination of social isolation, boredom, spare cash and rapidly innovating fintechs. Over half (56 per cent) of 18-34 year olds in the UK who invest attribute their strategy to ideas published on [...]
UK advertising watchdog probes crypto meme coin Floki’s marketing ‘assault’ on London transport November 17, 2021 The Advertising Standards Authority (ASA) has bowed to calls for an investigation into an ad campaign for a digital token named after Elon Musk’s new dog, Floki, after hundreds of adverts for the cryptocurrency appeared across the capital’s transport network. A spokesperson for the ASA told City AM that the watchdog is currently investigating the [...]