Campbell’s Soup to sell off divisions as activist investor calls for sale August 30, 2018 Campbell's Soup said today that it will sell two of its divisions as it faces pressure from investors to put the whole business up for sale. The food company, which was made iconic by Andy Warhol's paintings of its tomato soup, plans to flog its international business as well as its fresh refrigerated foods unit. [...]
Private equity firm Apollo takes Aspen Insurance private in $2.6bn deal August 28, 2018 Aspen Insurance said today that funds associated with private equity firm Apollo Global Management had agreed to take it private in a $2.6bn deal. The Bermuda-headquartered insurer, which is listed in the US, has significant UK operations with offices in London, Birmingham, Bristol, Chelmsford, Croydon, Glasgow, Leeds and Manchester. Apollo will pay $42.75 per share, [...]
IG Design Group wraps up acquisition of US gift and decor business for £57m August 28, 2018 A British gift and wrapping companies has acquired a US firm in a move which will bolster its presence stateside. IG Design Group has agreed to buy Impact Innovations for £56.5m, creating what it says will be the world's largest consumer gift packaging business. To fund the acquisition, the London-listed Design Group has announced a [...]
ECI makes £45m investment in technology consultancy MThree August 28, 2018 Private equity firm ECI Partners announced today it has made an investment into MThree, a global technology consultancy that trains graduates for roles in financial services organisations and tech companies. The investment is aimed to allow MThree, which was founded in 2010, to increase overseas expansion and accelerate growth. The value of the investment was [...]
Toyota invests $500m in Uber to propel self-driving cars into reality August 28, 2018 Japanese motoring giant Toyota has renewed its dedication to creating a self-driving car network on our streets, to the tune of a $500m (£387.6m) investment in ride-hailing firm Uber. The company said late last night it will expand its partnership with Uber in an effort to bring to market "autonomous ride-sharing as a mobility service at scale", at a time [...]
TGI Friday’s private equity owner Electra ends buyout talks August 24, 2018 UK private equity firm Electra which owns TGI Friday’s today confirmed it had ended talks about a possible buyout of the company. Electra did not say who the interested parties were, but it had been talks about a possible sale since May. Read more: CEE private equity investment hits record high It said talks for [...]
The CMA has officially launched a probe into the Sainsbury’s Asda merger August 23, 2018 The competition watchdog has officially launched an investigation into the proposed mega-merger between supermarkets Sainsbury's and Asda. Pricing, quality and the range of products at both businesses will come under scrutiny as the competition and markets authority (CMA) tries to determine if a tie-up will have a negative effect for UK consumers. The regulator will [...]
Sweet deal under scrutiny as watchdog probes Refreshers maker’s sale August 22, 2018 The competition watchdog is investigating a merger between the maker of Rowse Honey and one of the leading independent confectioners Tangerine Confectionery, the maker of Dip Dabs and other household brands, was put up for sale in February by its owner the private equity giant Blackstone. Earlier this month, Rowse Honey owner Valeo confirmed that it had [...]
Sky prepares for £97m advisory bill on Fox deal August 20, 2018 Telecoms giant Sky has revealed it is anticipating a bill for its advisory team of between £90m and £97m, if 21st Century Fox triumphs in its attempt to takeover the firm. A circular published by the broadcaster today said it will spend as much as £61.5m on financial and broking advice, with an additional £20m to [...]
John Laing Infrastructure Fund shares leap on potential £1.4bn offer July 16, 2018 Shares in John Laing Infrastructure Fund (JLIF) leapt by more than 17 per cent this morning after a consortium of funds announced a possible cash offer for the business. The consortium said this morning that it is in negotiations with JLIF over a cash offer for the London-listed business that could value it at £1.4bn. [...]