Jamie Oliver looking for a pukka pay day as restaurants go to tender June 1, 2015 British private equity firm 3i has been named as one of several prospective bidders being courted to buy a significant stake in Jamie Oliver’s burgeoning restaurant empire. 3i, which counts itself among some of the UK’s oldest private equity firm’s, has previously invested in restaurant chain Giraffe, which it subsequently sold to Tesco. Bids for [...]
Ultra Electronics Holdings enhances war capabilities in $265m Kratos Defence bid June 1, 2015 UK defence firm Ultra Electronics Holdings announced it had agreed to acquire the electronic products division (EPD) of Kratos Defence and Security Solutions yesterday for up to $265m (£174m). Ultra Electronics said the acquisition will strengthen its position in the growing market of electronic warfare and provide long-term contracts to boost its order book visibility. [...]
SVG Capital puts Hugo Boss back on the sales rack but keeps focus June 1, 2015 SVG Capital netted £287m over the last three months as the private equity firm completed its divestiture of Hugo Boss shares it emerged yesterday. In addition, the firm said it had partially sold down its stake in Arysta LifeScience and expected to make at least one new investment commitment and further co-investments this year. The [...]
British American Tobacco in €550m Croatian deal to buy TDR from Adris Grupa June 1, 2015 British American Tobacco (BAT) is set to extend its reach into the Balkans after the cigarette giant agreed to purchase TDR from Croatia’s Adris Grupa yesterday for €550m (£394m). BAT, which last year had a global market share of 12 per cent in tobacco products, said it will benefit from TDR’s strong brand presence in [...]
Tritax Big Box sets its sights on Tesco real estate with £47m bid June 1, 2015 Real estate management firm Tritax Big Box confirmed it will acquire Tesco’s regional distribution centre at Capitol Park in Goole for £47m yesterday. The deal, which has been funded through equity proceeds, will see Tritax take over the site which has a 17.5 year unexpired lease and is expected to yield a 5.67 per cent [...]
Optimal Payments gets go ahead for €1bn Skrill takeover June 1, 2015 Optimal Payments came a step closer to its reverse takeover of Skrill yesterday after the firm said it had met several of the conditions necessary for the deal. The announcement is the latest sign of progress since Optimal stated its intention to conduct the reverse takeover, worth €1.1bn (£791m), in March. The deal will see [...]
Corruption crackdown adds to Macau woe as gambling slumps June 1, 2015 The ongoing slump afflicting Macau’s gaming industry shows no sign of abating after figures released yesterday revealed a 37 per cent plunge in year-on-year revenues for May. The decline represents the twelfth consecutive month of year-on-year falls after Macau’s Gaming Inspection & Coordination Bureau said revenues for the period fell to $2.6bn (£1.7bn). Macau, which [...]
Aveva expands portfolio with FabTrol buyout June 1, 2015 Aveva Group has agreed to acquire Oregon-based software firm FabTrol in a deal worth $6.5m (£4.2m), it announced yesterday. FabTrol, which is currently owned by Dowco Group, specialises in the provision of management software for the steel fabrication industry. Aveva views the acquisition as a way of further integrating this technology into its existing Bocad [...]
Chinese equities – a steady bull market? Despite risks, stocks will continue to rise in coming months June 1, 2015 Despite a six per cent sell-off on Thursday, the Chinese equity markets made fresh gains yesterday. Shanghai’s CSI 300 index rose 4.86 per cent to 5,076.18, while the Shanghai Composite Index gained 4.72 per cent to 4,828.74, following a 136.9 per cent increase in the last 12 months. These gains came despite relatively weak market [...]
HSBC expected to unveil thousands of job cuts June 1, 2015 HSBC is expected to unveil thousands more job cuts as the lender attempts to improve profitability. Chief executive Stuart Gulliver is thought to be planning to reveal plans to slash as many as 20,000 jobs at an investor presentation next week, Sky News reported. The scandal-hit bank has been under pressure from shareholders in recent months. [...]