E-cigarette sales not smoke and mirrors June 22, 2015 The market for e-cigarettes nearly doubled in sized from 2013 to reach $6bn (£3.8bn) in 2014, according to data released yesterday by Euromonitor International (EI). “Since its introduction to the market in 2005, vapour products have grown by nearly 70 per cent, eclipsing nicotine replacement therapy products,” said Zora Milenkovic from EI.
Italy’s Ferrero goes hazelnuts for Thorntons June 22, 2015 ITALIAN confectionery giant Ferrero International is hoping to treat itself to another box of chocolates after offering to buy Thorntons for £112m yesterday, sending shares in the ailing retailer soaring by 43 per cent. The family-owned chocolatier behind Nutella, Kinder and Ferrero Rocher has offered to pay 145p per share in cash for Thorntons, reflecting [...]
Eurosceptic Business for Britain report sets the stage for Brexit June 22, 2015 A new report from business leaders is giving momentum to an increasingly well-organised group of Eurosceptics who stand to vote “no” - in favour of the UK leaving the European Union – in an in/out referendum. “Change, or go,” a new report from the Eurosceptic Business for Britain campaign group, argues that the UK “could prosper and [...]
Aggreko to split itself into two new business units after review June 22, 2015 Power services firm Aggreko is splitting in two, separating its rental business from its power business. As part of a company review, announced in March, the board has decided to move the group from its current regional structure to the new structure, which will comprise of Aggreko Rental Solutions and Aggreko Power Solutions. Aggreko, which [...]
Private equity firm Agilitas snaps up Danish firm MH Group June 22, 2015 Private equity firm Agilitas has added to its portfolio of recycling companies by backing a management buyout of Danish firm MH Group. The UK-headquartered firm will back current MH boss Christian Rindbol by acquiring the financial interests of Michael Henriksen Holdings. MH was founded by Michael Henriksen in 1997, but he died last year. MH [...]
Tullow Oil agrees $250m settlement to wrap up Ugandan tax dispute June 22, 2015 Tullow Oil will pay the Ugandan government a $250m (£158m) settlement, bringing to an end a two year dispute over capital gains tax. The London-listed company has already paid $142m, and the remaining $108m is being paid in three separate $36m installments, one of which has already been paid. The total sum will be fully [...]
Remgro takes a healthy slice of care firm Spire June 22, 2015 SOUTH African investment firm Remgro acquired a 29.9 per cent stake in UK private healthcare company Spire in a deal worth £431.7m yesterday. Remgro, the 41.4 per cent majority shareholder in Mediclinic, South Africa’s largest private hospital owner, bought the shares at 360p from funds managed by Cinven. The intention is for Mediclinic to purchase [...]
Government pumps millions into aerospace technology companies June 22, 2015 Small technology firms will be able to compete for £10m in subsidies under a new government scheme announced yesterday. Speaking at the opening of a new aerospace research facility in Coventry, small business minister Anna Soubry said that the competition aimed to find “game-changing” aerospace technologies. Soubry also announced four new projects with larger firms that [...]
Capita is awarded NHS England admin contract worth up to £1bn June 22, 2015 NHS England yesterday awarded Capita the contract to become sole provider of administrative services for primary care across the UK. The four-year sole provider deal to manage and deliver services in England has a maximum value of £1bn, with an initial seven-to-ten year contract worth around £400m. Capita, along with its subcontractor Anglian Community Enterprise, [...]
Popped corks as Greene King-Spirit pub partnership gets green light June 22, 2015 Pub operator Greene King yesterday toasted the competition watchdog’s approval of its £774m takeover of Spirit. The Competition and Markets Authority (CMA) said it was satisfied the proposed sale of 16 pubs by the combined group would fix concerns raised by the company’s acquisition of Spirit Pub Company, and would not be referring the [...]
