3i in plea for patience amid investor anger April 1, 2012 DIRECTORS at 3i are set to plead for patience with key investors amid calls for change at the under-pressure private equity house. A group of shareholders, the total size of which is unknown, has demanded the firm sell off assets after a long period in which shares have traded below the underlying value of investments. [...]
Buyout boss leaving but woes remain April 1, 2012 THANKS to a combination of boardroom decisions, some vocal activist investors and the long-running economic slump, 3i is stuck between a rock and a hard place. If it continues to defy those shareholders calling for an asset sale, then it faces more public griping, even though some rebel investors, such as Laxey, own only around [...]
Goldman Sachs leads Diageo to stake in Cuervo April 1, 2012 GOLDMAN Sachs is working closely with Diageo as the spirits company hones in on its deal to buy equity in $3bn-plus (£1.9bn) tequila brand Jose Cuervo. Along with UBS and Credit Suisse, Goldman is expected to lead Diageo to a deal with Jose Cuervo by the early summer, possibly as soon as next month. The [...]
The law firm boss who’s not moving anywhere but up April 1, 2012 LAST weekend, Bryan Hughes found himself hanging 50ft above the ground, attached to nothing but a rope. In an effort to face his son’s fear of heights he’d taken him on the high wires at Center Parcs, but when they reached the highest point Hughes found himself feeling a growing sense of panic. “I made [...]
Facebook’s float could be the kick the markets need April 1, 2012 IT will be one of the biggest market events of the year. Yes, I’m referring to Facebook’s Initial Public Offering (IPO) – and D-Day is getting ever closer. The company filed to go public in February, and last week trading of its shares was halted on the secondary market as it tries to cement its [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS April 1, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 21 March to Wednesday 28 March. Samsung often receives a similar volume of online mentions [...]
Cookson mulls a demerger April 1, 2012 Industrial materials firm Cookson is considering breaking itself in two. The FTSE 250 firm has appointed Rothschild as an adviser and could separate and float its electronics business. Analysts have talked up the benefit of a demerger over the last two months but sources said the review was a routine matter. Cookson, whose products are [...]
PE-backed firms remain upbeat April 1, 2012 Despite continued economic uncertainty and difficult debt markets, private equity (PE) backed companies remain focused on growth and expect to increase both turnover and profitability in 2012. Eight out of ten expect to grow turnover and almost three quarters anticipate EBITDA growth, says PwC in a new report. To reach their growth targets, 60 per [...]
City believes big party donors should get some senior access in return for their cash April 1, 2012 IT is reasonable for major donors to political parties to expect some access to party leaders in return for their cash, according to a majority of those surveyed by City A.M./PoliticsHome.com. Fifty-three per cent of business professionals asked said that those who give over £250,000 should expect to be get “general meetings with the party [...]
Canary Wharf will be open for business during the Olympics April 1, 2012 CANARY Wharf Group yesterday stressed that it would be open for business during the Olympics, following reports the government is pushing for financial services staff to work from home in order to ease travel congestion while the Games are taking place. More than 300 Boris Bike docking stations will be available, while an extra 170-seater [...]
