Boots buys into Latin America August 12, 2014 ALLIANCE Boots said yesterday it had made its first foray into Latin America, after completing its acquisition of pharmacy chain Farmacias Ahumada. The company, which revealed its full merger with US giant Walgreens last week, said the Santiago-listed group comprised of two main businesses in Mexico and Chile which together operated more than 1,400 stores, [...]
London Central Portfolio plays down property growth slowdown as luxury market rises August 12, 2014 A leading property asset manager and expert on central London property has dismissed concerns over slowing growth, after new figures reveal growing appetite in the capital’s luxury housing market. London Central Portfolio (LCP) chief executive Naomi Heaton said yesterday that its analysis of Land Registry figures for the second quarter showed that sales volumes in [...]
Chiquita and Fyffes $1bn banana merger may be split August 11, 2014 A MERGER between two of world’s largest banana rivals Fyffes and Chiquita was thrown in doubt yesterday after new suitors weighed in with a rival $610.5m (£364m) takeover bid. Juice maker Cutrale and the Brazilian investment firm Safra announced that they have offered $13 per share in cash to Chiquita shareholders, a 29 per cent [...]
Hotel activity to hit new record high as investor appetite grows August 11, 2014 INVESTORS stepped up their spending on UK hotels in the first six months of the year as rising confidence and increased availability of debt helped boost activity in the sector. According to figures released today by Deloitte, UK hotel transactions totalled £1.5bn in the first half, 65 per cent higher than the second half of [...]
Workspace to revamp factory August 11, 2014 SMALL business landlord Workspace yesterday won planning permission to turn a former HMV gramophone factory in Hayes into a new business centre as it bets on the launch of CrossRail boosting demand for office space in the area. Workspace and its joint venture partner Polar Properties plan to revamp Enterprise House to create 38,000 square [...]
Crown Estate and Norges Bank seize Mayfair estate for £381m August 10, 2014 The Crown Estate and Norges Bank Investment Management (NBIM) have snapped up a large chunk of Mayfair for £381m after fending off fierce competition from other property rivals. The pair said yesterday that they have bought a 64.2 per cent stake in the Pollen Estate from the Church Commissioners for England. NBIM has purchased 57.8 [...]
Sage chief executive Guy Berruyer in line for £6m leaving package August 10, 2014 Guy Berruyer, the boss of top software developer Sage Group, could land a £6m leaving package when he steps down in November. Berruyer has amassed £2.7m in shares since joining Britain’s only FTSE 100-listed software firm in 1997. He could also be awarded a further £3m from the executive bonus plan, if the company reaches [...]
SSP share price rises as travel giant delivers jump in sales following IPO August 8, 2014 Food concessions giant SSP posted a 3.5 per cent rise in quarterly sales yesterday in its first set of results since floating last month. The group, which owns Upper Crust and also runs travel outlets for retailers such as Marks & Spencer and Starbucks, said like-for-like sales rose by 3.3 per cent in the three [...]
Co-op shelves plans for online grocery service August 8, 2014 THE CO-OPERATIVE Group has shelved plans to join its rivals and launch an online grocery service just months after unveiling a plan to turn around its embattled food business. The mutual began trialling click-and-collect service – where customers can pick up groceries ordered online – at a store in Stockport in November, but has now [...]
Londoners selling up for new life in the country boosts Savills August 8, 2014 Londoners swapping life in the capital for a new home in the countryside helped boost sales volumes in the regions and lift profits at property group Savills. The company said a recovery in the markets outside of London helped lift sales volumes by 20 per cent in the first half of the year compared to [...]
