UK private equity firm makes Star investment in German IT company September 5, 2016 UK private equity firm Star Capital has acquired a majority stake in Stuttgart-based IT and infrastructure business Globalways. Under the investment, around €60m (£50m) of growth capital will be committed to building a regional data centre business in Germany. Read more: Private equity group scoops up Millionaires' Holiday Club company for £30m It is the [...]
Patrick Drahi’s Altice agrees £2bn deal to buy remaining stake in French company SFR September 5, 2016 Dutch telecoms company Altice has agreed a deal to buy the 22 per cent of French company SFR Group that it doesn’t already own for around €2.4bn (£2bn). Patrick Drahi’s Altice said the deal, to buy out smaller investors, had been unanimously agreed to by the company boards. Read more: Altice hits out at rival [...]
Santander UK to bid for credit card giant MBNA as competition heats up September 5, 2016 Santander UK is reportedly circling MBNA, as interest in the credit card giant heats up ahead of next week’s deadline for offers. Sky News reported that the bank is considering a takeover bid for MBNA and could make a formal offer next week. MBNA has been stamped with a "for sale" sign by its current owner, Bank of [...]
American Formula One takeover edges closer but subject to European Commission sign-off September 4, 2016 The eagerly-anticipated sale of Formula One to Liberty Media will need to navigate a series of tight chicanes including potential scrutiny by the European Commission (EC). Private equity fund CVC is putting the final touches to a $9.1bn (£6.8bn) deal that will see the American media giant take full control of Formula One . Fox media mogul Chase [...]
Bayer board to debate making a hostile approach for Monsanto September 4, 2016 The board of German multinational chemical and pharmaceutical firm Bayer is expected to debate taking another swing at US seed company Monsanto when it meets next week. Bayer’s supervisory board will meet on 14 September and will weigh up whether to sweeten its offer for Monsanto again or even pursue a hostile takeover, German newspaper Rheinische [...]
Mergers won’t necessarily make the system stronger says German banking chief September 1, 2016 The head of the Federal agency that supervises the German financial sector has warned that consolidation among banks would not necessarily strengthen the banking system. President of BaFin, Felix Hufeld said that "consolidation cannot be a goal in itself” when addressing a banking conference today. The news comes the day after local media reported that Germany’s two largest lenders, Deutsche [...]
Inmarsat places $650m bond but isn’t planning to splash the cash September 1, 2016 Satellite company Inmarsat reached for the sky and succeeded as it successfully placed $650m of convertible debt. The placing was $50m more than the original deal size and Inmarsat said it reflected the “considerable demand” for the bonds which have a maturity that stretches out to 2023. “It was a popular placing that was oversubscribed [...]
Paysafe share price soars as company buys affiliate marketing technology provider Income Access September 1, 2016 Paysafe's share price has jumped today after the payments solutions firm announced it was snapping up Income Access. Paysafe is buying the Montreal-based company, which provides affiliate marketing technology to businesses, for cash consideration of CA$40m (£23bn). Investors were clearly thrilled with the decision, as shares are currently up 2.2 per cent at 446.2p. "This transaction delivers on Paysafe's strategic [...]
Nando’s takes flight by offloading GBK to South African restaurant chain September 1, 2016 One of the original purveyors of the upmarket burger has been sold to the owner of 1980s stalwart Wimpy for 2.1bn rand (£109m). In a deal that really cut the mustard South African fast food group Famous Brands bought Britain's Gourmet Burger Kitchen (GBK) as it saved nearly a fifth on the price due to the weaker pound in the wake [...]
SoftBank “not a good owner” for ARM laments Lord Myners as shareholders wave the deal through August 30, 2016 All systems go! Shareholders of tech giant ARM Holdings have approved the £24bn SoftBank takeover – clearing its last hurdle ahead of the deal being completed on Monday. The deal was waved through by 95 per cent of investors this afternoon, the Cambridge-based company said in a regulatory filing. Not all are happy about the deal however. [...]