KKR snaps up John Laing in £2bn takeover deal May 19, 2021 Private equity giant KKR has this morning agreed a £2bn takeover deal for FTSE 250 infrastructure investor John Laing. The takeover deal, which was first mooted earlier this month, values the firm at 403p per share. That represents a 27 per cent premium on the company’s closing price of 318p per share on 5 May, [...]
Severn Trent to raise £250m to fund green projects May 19, 2021 Severn Trent announced this morning that it would seek to raise £250m through a share placing in order to fund six new green projects. The water firm said that the shares, are expected to represent up to 5 per cent of its existing share capital, would be priced at 9717/19 p each. The proceeds will [...]
2035 zero emission car target a ‘mountain to climb’ for government, MPs say May 19, 2021 The government is facing a “mountain to climb” to deliver on its ambition to make all cars sold in the UK zero-emissions by 2035, MPs have said today. Ministers must address the twin challenges of up-front prices for electric cars, which remain notably higher than petrol and diesel cars, and providing enough charging infrastructure to [...]
Jaguar Land Rover sinks to a loss after new CEO’s £1.5bn strategy reset May 18, 2021 Jaguar Land Rover sinks to a loss after new CEO's £1.5bn strategy reset
Vodafone back in the black but telecoms giant misses expectations May 18, 2021 Vodafone swung back into the black in the last financial year, the telecoms giant revealed this morning, posting a profit of €536m (£460m). The firm said that it had successfully completed the first phase of its plans to reshape the business, and had been buoyed by an especially good performance in Germany. However, the firm [...]
DCC boss hails ‘astonishing year’ as PPE demand boosts profit May 18, 2021 DCC appoints former JP Morgan investment banker as its next chairman
Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
Used car firm Cazoo sees revenue surge fivefold May 18, 2021 Used car firm Cazoo today said that its revenue grew nearly fivefold in the first quarter as the online dealership continues its rapid expansion. The company, which was set up in 2018, said that revenue in the first period was £113.9m, compared with £19.6m last year. The increase is the result of the firm selling [...]
TfL granted 10 day funding extension as negotiations continue May 18, 2021 Transport for London (TfL) this morning announced that the government has extended its current funding deal for 10 more days while it continues to negotiations over a new package. The transport operator’s current deal, itself an extension of an earlier agreement, was due to expire today. But the network said the deal had been extended [...]
‘The Big Short’ investor reveals $534m bet against Tesla May 18, 2021 One of the hedge fund managers made famous by the Oscar-winning film The Big Short has taken out a sizeable short position against Tesla. In a regulatory filing yesterday, Michael Burry’s Scion Asset Management said it had bearish put options worth $534m against the electric car firm’s stock. Put options give investors the right to [...]
