BC Partners and Silverlake sell insurance firm to ex-AIG boss February 17, 2014 PRIVATE equity firms BC Partners and Silverlake yesterday doubled their money on US healthcare firm MultiPlan after offloading the business to a group led by former AIG boss Hank Greenberg. Greenberg’s Starr Investments has partnered with Swiss private markets giant Partners Group to buy MultiPlan, according to a statement yesterday, in a deal which is [...]
Innovation Group bolsters its storm damage claims division February 17, 2014 INNOVATION Group has entered into a sale and purchase agreement to buy LAS Claims Management from Gresham Private Equity in a £35m cash deal, it announced yesterday. Innovation provides software solutions for insurance, fleet, motor and property industries and is seeking to expand its property and motor portfolio. The acquisition will be part-funded by a [...]
Russia aims for privatisation plan February 17, 2014 Russia’s prime minister said yesterday he hoped to raise more than $5.5bn this year by selling stakes in state companies, reviving a delayed privatisation programme that could spur a flagging economy. At a meeting with deputy prime ministers, Dmitry Medvedev also sounded a note of caution, saying the sale of shares in companies such as [...]
Miles says housing not overheated February 17, 2014 Britain’s housing market is not overheating but interest rates will not remain at record lows indefinitely, Bank of England policymaker David Miles said in an interview yesterday. Miles, a member of the Bank’s monetary policy committee (MPC), told Bloomberg Television the amount of slack in Britain’s economy means there is no case for tightening monetary [...]
Obituary Anthony Gore Browne February 17, 2014 Stock Exchange veteran Anthony Gore Browne has passed away, aged 69. Nick Bealer, chairman of the Stock Exchange Veterans Charity Association, paid tribute to Gore Browne yesterday, saying he had been involved in many City institutions such as the City of London Club and the Stock Exchange Veterans. He was also a Freeman of the [...]
UGL to weigh up private equity offers for its property arm DTZ February 17, 2014 AUSTRALIAN engineering giant UGL confirmed yesterday that it was weighing up unsolicited offers for DTZ that could throw the planned demerger of the property services arm off-course. A number of private equity firms are believed to be circling the British property name, which was acquired by UGL just over two years ago via a pre-pack [...]
Ofgem targets distribution firms in plan to cap electricity returns February 17, 2014 ENERGY regulator Ofgem yesterday announced its latest plan to increase efficiency at Britain’s electricity distribution companies, by placing limits on the returns on investment they can generate. The move comes as firms face ongoing pressure from government and the public to keep bills in check. The regulator said it is proposing to lower the assumed [...]
Whitbread signs deal to expand Premier Inn in the Middle East February 17, 2014 LEISURE giant Whitbread has struck a deal with Aim-listed hotel group Action to expand its Premier Inn brand across the Middle East. The group said yesterday that Premier Inn will undertake long-term management contracts on four new Premier Inn hotels owned by Action Hotels, that are due to open between now and 2016. These include [...]
Fidessa’s fifth straight special dividend fails to lift share price February 17, 2014 TRADING technology firm Fidessa Group reported broadly flat full year revenues for 2013, a year that chief executive Chris Aspinwall said showed the first real improvement in trading conditions since the financial crisis in 2007. The group paid out another special dividend of 45p per share, while its final dividend was flat at 37p per [...]
Analyst Views: What did you make of Fidessa Group’s results yesterday? February 17, 2014 GEORGE O’CONNOR | PANMURE GORDON There is of course the special dividend and the broadly positive outlook statement (quelle surprise) – things are getting better. There are two flies in the ointment, currency headwinds denting growth, and buy-side missed our estimates. We need firmer evidence before we change our stance. ANDREW DARLEY | FINNCAP Fidessa’s [...]
