Standard Chartered mulls sale of £3bn aviation arm days after First Abu Dhabi Bank drops takeover bid January 11, 2023 Standard Chartered is considering selling its £3bn aviation finance business, the bank said today. Standard Chartered’s aviation business, which is based in Ireland, accounts for around two per cent of its total income. The business owns and manages over 120 aircraft, leasing them to over 30 of airlines around the world, according to Airfinance Journal’s [...]
What lies ahead for M&A in 2023 in EMEA? January 4, 2023 | City Talk This past year has been a bit different from the prior year for M&A. After a record year in 2021, EMEA M&A saw a downshift in momentum in 2022. Both deal volumes and values in EMEA fell in the first three quarters of 2022 compared to the same time last year: there were 8,279 deals [...]
Serica to acquire Tailwind in £367m deal December 20, 2022 Serica Energy has announced it will buy the entire share capital of fellow North Sea oil firm Tailwind Energy Investment for a combined £367m. Natural gas producer Serica Energy will provide a £58.7 million cash payment and will issue over 111m ordinary shares representing as much as 28.9 per cent of its share capital. The [...]
Birketts strikes merger deal with Batchelors Solicitors amid forecasts of upcoming M&A boom November 28, 2022 UK law firm Birketts has struck a deal to merge with its London rival Batchelors Solicitors amid forecasts of a surge in consolidation in the UK’s legal sector. The deal will see the two firms join forces in a merger that is set to combine their long-standing social housing practices to create a market-leading team. [...]
M&A Purchasing Power: A US Shopping Spree in Europe? November 9, 2022 | City Talk The US dollar has gained strength over the last few months. And the euro fell below parity with it in July. And the pound… well, let’s not get started. For international organizations with dollar-denominated debts, conditions have become more expensive over the course of this year. Conversely, for US consumers, a stronger dollar will lead [...]
MySale board urges shareholders to back Frasers’ offer despite acknowledging bid undervalues firm October 12, 2022 The board of MySale has urged shareholders to accept Frasers’ bid even though the company acknowledges the offer “undervalues” the business. The Sports Direct owner Frasers would expect to own 504,113,926 MySale Shares or more than 48 per cent of the voting rights, if the deal went through. Last month, MySale shareholders rejected a 2p-per-share [...]
Half of UK logistics firms to make acquisitions despite volatile market October 5, 2022 Almost half of UK logistics firms is set to make an acquisition in the next year despite challenging market conditions. Data published today by Barclays Corporate Banking reported that 45 per cent of UK businesses were considering the move as a way to achieve economies of scale and expand services. This is the highest figure [...]
Sports streaming platform DAZN acquires ELEVEN Group September 27, 2022 Global sports streaming service Dazn has acquired Eleven Sports, making it the biggest football rights holder in Europe. Dazn Chairman Kevin Mayer described the deal as a “major moment” for the company because it will allow them to progress with their ambition to become a “daily destination for sports fans” globally. “It’s a win, win, [...]
Suez strikes £1.75bn deal to buy back UK waste management from Veolia September 21, 2022 French utility Suez SA has struck a €2bn (£1.75bn) deal with Veolia Environment to buy back the UK waste management business it agreed to sell off to its rival last January. Suez has scuppered Macquarie’s bid to buy the British unit after the Australian asset manager struck a deal to acquire the UK business for [...]
French titan Schneider snatches Aveva in £9.5bn deal September 21, 2022 French industrial giant Schneider has snatched London-listed software developer Aveva in a £9.5bn deal. Schneider already owns a majority stake in the Cambridge developer as in 2017 it acquired 60 per cent of Aveva for £3bn. The £31 per-share deal, which implies an enterprise value of £10.2bn, was announced today by the companies. The offer [...]