Asda takeover completes as Issa brothers split made official November 1, 2024 Asda is now under the majority control of private equity giant TDR Capital after billionaire Zuber Issa sold his shares in the supermarket giant. Funds managed by TDR Capital now hold a 67.5 per cent stake in the Leeds-headquartered company while Zuber’s brother Mohsin Issa retains his 22.5 per cent holding. A further 10 per [...]
Eckoh: Another AIM exit as private equity firm launches bid October 30, 2024 Payments software firm Eckoh is set to leave the London Stock Exchange’s AIM after it received an offer from private equity firm Bridgepoint. The bid values Eckoh at 54p per share or £169.3m. The price is offered is 15.9 times Eckoh’s adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) for the year ending March [...]
Hargreaves Lansdown client growth surges as takeover looms October 29, 2024 Hargreaves Lansdown’s client growth surged to 18,000 in the last quarter as the investment platform’s private equity takeover approaches. However, despite the growth, which compared to just 8,000 new customers in the same quarter last year, new assets coming into the platform dropped. Hargreaves Lansdown reported just £500m in net new business, compared to £600m [...]
Private equity tax grab could raise nearly £1bn, study finds October 26, 2024 Bringing the tax on profits earned by private equity bosses in line with income tax could raise up to £1bn, a fresh study from a respected think tank has found. Researchers from the Centre for the Analysis of Taxation’s (CenTax) estimate that taxing carried interest – often referred to as ‘carry’ – at the same [...]
Rachel Reeves’ carry tax hikes are sensible, says private equity boss October 24, 2024 Rachel Reeves’ plans to tax private equity partners more onerously are sensible and concerns about them triggering an exodus of dealmakers from London have been overdone, a private equity boss has said. Rami Cassis, chief executive and founder of private equity boutique Parabellum, threw his weight behind the chancellor’s plans to bring carried interest – [...]
Morgan Motor Company: Sports car maker sinks further into the red October 18, 2024 The firm behind sports car maker Morgan Motor Company saw its pre-tax loss widen by more than £10m during its latest financial year as it was hit with supply chain issues and increased costs. The Worcestershire-headquartered business has reported a pre-tax loss of £25.5m for 2023, after having posted a pre-tax loss of £15.5m for [...]
Tate & Lyle shares soar on Advent private equity takeover rumours October 16, 2024 Shares in ingredients group Tate & Lyle have soared more than 12 per cent today after rumours emerged of a bid for the company from an American private equity group. The FTSE 250 food and beverage company is being targeted by US-based Advent International, according to the Financial Times. While Advent, which is the eighth [...]
Man Utd deal was win-win for Ratcliffe and Glazers, says Raine Group October 16, 2024 Sir Jim Ratcliffe’s £1.25bn investment in Manchester United was a win for both him and majority shareholders the Glazers, insists the bank which brokered the deal. Ineos tycoon Ratcliffe shelled out for a 27.7 per cent stake in the Premier League football club in December and, in return, took over much of the decision-making from [...]
Bosses at world’s biggest banks: Britain is ‘ready for investment’ October 14, 2024 Bosses at five of the world’s biggest banks, along with a host of insurers, private equity firms and tech giants, have backed a push to invest in the UK ahead of the government’s flagship investment summit today. More than a dozen executives signed a letter stating that they were optimistic about the future of the [...]
What impact will ECJ ‘Bosman Mark II’ Diarra ruling have on private equity? October 14, 2024 The so-called “Bosman Mark II” Diarra ECJ ruling will have an impact on football but fortune will favour the flexible when it comes to private equity. Described by many as “Bosman Mark II,” the recent European Court of Justice (ECJ) ruling in the Lassana Diarra case has captured the attention of the European footballing community, [...]