New Look profit rises – but silence on IPO June 2, 2010 BUDGET fashion retailer New Look posted a 17.7 per cent rise in annual profit but has remained silent about its ambitions for a stock market return after postponing its flotation in February. The chain, which blamed volatile financial markets for derailing an expected £1.7-£2bn listing, said higher taxes and unemployment, and a weaker pound, would [...]
Clarke to become chief executive at Asda while Bond steps up to chairman May 11, 2010 CHIEF operating officer of Asda, Andy Clarke, has been appointed to the role of chief executive and president of the US-owned supermarket. His promotion follows last month’s announcement by Andy Bond that he would step up to become part-time chairman at the retailer. Clarke joined Asda in 1992 but left in 2001 for roles at [...]
Asda takes over Netto in £778m deal May 27, 2010 ASDA has bought the Netto supermarket chain in the UK for £778m. Netto has 193 stores, which will be converted to small Asda stores by next Summer, if regulators give the deal the go-ahead. Asda plans to employ up to twice as many staff in each of the stores it has acquired. It sees the [...]
Former Boots boss launches Matalan bid November 15, 2009 Former Boots chief executive Richard Baker is at the forefront of a £1.5bn private equity bid for out-of-town retailer Matalan. Advent International, where Baker was recently hired as an operating partner, is the latest name to be added to the string of private equity firms believed to be circling the retailer. Matalan, which specialises in [...]
Private equity giants enter first stage fight for Matalan November 19, 2009 MATALAN, the discount clothing chain, is believed to have entered the first stage of its sale process as five private-equity titans go head to head in the preliminary bidding process. TPG, Blackstone, Warburg Pincus and BC Partners are all understood to have entered the first round of bidding for the retailer, which has so far [...]
Matalan explores a sale to private equity firms October 25, 2009 DISCOUNT clothing and homeware retailer Matalan is being circled by several private equity firms interested in taking it over, it was confirmed by the company this weekend. The retailer has appointed PricewaterhouseCoopers (PwC) to advise it after receiving a string of unsolicited approaches by firms, including CVC Capital Partners. Matalan has been given a likely [...]
Matalan gets a 1.5bn price tag October 4, 2009 MATALAN, the discount out-of-town retailer, has held several talks with its advisers in recent weeks about the potential sale of the business. While a sale is not imminent, observers believe that the business could fetch around £1.5bn. Matalan was taken private three years ago by its founder John Hargreaves in a £827m deal, backed by [...]
Matalan gets a 1.5bn price tag October 4, 2009 MATALAN, the discount out-of-town retailer, has held several talks with its advisers in recent weeks about the potential sale of the business. While a sale is not imminent, observers believe that the business could fetch around £1.5bn. Matalan was taken private three years ago by its founder John Hargreaves in a £827m deal, backed by [...]
BEST OF THE BROKERS January 13, 2010 BARCLAYS Execution has initiated coverage of Barclays with a “buy” rating. The broker said revenues at BarCap should be relatively sustainable due to its diverse fixed income business and revenue growth from its organic investment programme. It also sees Barclays as the best European investment bank on tangible equity to assets. BG GROUP Collins Stewart [...]
Travelport in pole position in float queue January 17, 2010 TRAVELPORT looks set to become the most expensive company to float on the stock exchange in two years. It will be amongst the first in a slew of companies seeking an IPO in the coming months. The airline and hotel reservations firm, which operates in 160 countries, has plans for flotation in London and hopes [...]