Montagu goes back to school with a deal for College of Law April 17, 2012 PRIVATE equity house Montagu has taken over a legal college with the power to award degrees. It bought the College of Law, which had been run as a charity and is one of just five private higher education providers, after agreeing a deal with the governors. Both sides refused to put a value on the [...]
Danone keeps full-year goals as sales rise April 17, 2012 FRENCH food group Danone has kept its full year goals intact despite a worsening economic climate in austerity-hit southern Europe, saying it banked on strong demand from emerging markets to underpin its growth. The world’s largest yoghurt maker, with brands including Actimel and Activia, also said first-quarter sales beat expectations after its lagging dairy division [...]
ADVISERS HAWKPOINT PARTERS April 17, 2012 EMILY Ashwell, a director at Hawkpoint Partners, was part of the team who advised the College of Law on the sale of its legal education and training business to Montagu Private Equity. Although focusing on the field of media and entertainment, she has worked on a number of sales involving education and training firms since [...]
REAL ESTATE PRICES HIT GROSVENOR PROFITS April 17, 2012 A SLOWER rise in the value of its real estate saw Grosvenor’s profits tumble by around 20 per cent last year, it revealed yesterday. The company, owned by the Duke of Westminster, reported pre-tax profit of £315m in 2011, down from £394.8m in 2010.
Fracking given green light in spite of quakes April 17, 2012 THE GOVERNMENT yesterday indicated that shale gas drilling would resume onshore in the UK after a temporary ban on the controversial extraction technique known as fracking. The ban came after Cuadrilla Resources admitted that its shale exploration caused tremors in Blackpool last year. Protesters have also claimed the process contaminates drinking water. However, Britain has [...]
Cairn kills Gammell’s £2.5m bonus after investor revolt April 17, 2012 CAIRN Energy yesterday confirmed that its founder and former chief executive will not be paid a £2.5m bonus after shareholders staged a revolt. The company’s 2011 annual report said that the company had decided “not to pursue the proposed award”. The Edinburgh-based oil company saw the plan – under which £1m would be paid to [...]
Rio Tinto blow as copper and iron production disappoints April 17, 2012 RIO Tinto yesterday reported worse-than-expected falls in iron ore, copper and coal production in the first quarter after it was hit by bad weather. The world’s second biggest producer of iron ore said output dropped 11 per cent in the March quarter from the previous three months, with cyclones hampering production and shipments in the [...]
Afren buoyed by Kurdistan oil discovery April 17, 2012 OIL explorer Afren said yesterday it had made a “significant” oil discovery in Kurdistan, adding to a string of discoveries that have attracted foreign oil companies to the semi-autonomous region of Iraq in recent years. The FTSE 250-listed company said the find, made with its partner Hunt Oil, is in the Ain Sifni exploration block. [...]
What is the deal with fracking? April 17, 2012 Q What is fracking? A Fracking is pumping pressurised water and chemicals underground to open shale rocks and release trapped gas in otherwise inaccessible areas. Q Why is it called fracking? A It is a shorted version of hydraulic fracturing – or splitting rocks using pressurised fluids to push out the fuel held within. Q [...]
VW boss fulfils 30-year dream of Ducati deal April 17, 2012 VOLKWAGEN’S Audi unit has agreed to buy thoroughbred Italian motorcycle maker Ducati for about €860m (£708.5m) including debt, two people familiar with the matter said yesterday. The deal allows VW chairman Ferdinand Piech, who has long coveted Ducati and himself owns one of their superbikes, to make up for a missed opportunity nearly 30 years [...]
