Game rescued by OpCapita deal April 1, 2012 CRISIS-HIT retailer Game, which went into administration last week, was yesterday rescued by investment firm OpCapita, in a deal which will safeguard nearly 3,200 jobs. The turnaround specialist, which earlier this year acquired British electrical chain Comet from Kesa, has bought Game’s UK assets including all 333 remaining stores, administrators PwC said in a statement [...]
John Buchanan quits Vodafone but denies row April 1, 2012 SIR John Buchanan is preparing to step down from the board of Vodafone where he has served as deputy chairman since July 2006. Sir John, who is also chair of medical devices business Smith and Nephew, will replace Doug Dunn as chairman of Cambridge-based chip maker ARM Holdings on 3 May. He has sat on [...]
Just two left in bidding war for BAA’s Edinburgh Airport April 1, 2012 THE field of bidders for Edinburgh Airport has narrowed to a straight fight between a group of investors led by JP Morgan and Global Infrastructure Partners (GIP). Their private equity rivals for the asset, 3i and Carlyle, are said to have pulled out of what is expected to be a £500m race for the Scottish [...]
Vue looks good as cinema firm set to expand April 1, 2012 VUE, the private equity-backed cinema chain, is set to ramp up its expansion plans as Britons spend more on affordable luxuries in the economic downturn. The chain, bought by Doughty Hanson in a £450m deal nearly 18 months ago, will open two sites this year and two next year as part of a development pipeline [...]
3i in plea for patience amid investor anger April 1, 2012 DIRECTORS at 3i are set to plead for patience with key investors amid calls for change at the under-pressure private equity house. A group of shareholders, the total size of which is unknown, has demanded the firm sell off assets after a long period in which shares have traded below the underlying value of investments. [...]
Buyout boss leaving but woes remain April 1, 2012 THANKS to a combination of boardroom decisions, some vocal activist investors and the long-running economic slump, 3i is stuck between a rock and a hard place. If it continues to defy those shareholders calling for an asset sale, then it faces more public griping, even though some rebel investors, such as Laxey, own only around [...]
Goldman Sachs leads Diageo to stake in Cuervo April 1, 2012 GOLDMAN Sachs is working closely with Diageo as the spirits company hones in on its deal to buy equity in $3bn-plus (£1.9bn) tequila brand Jose Cuervo. Along with UBS and Credit Suisse, Goldman is expected to lead Diageo to a deal with Jose Cuervo by the early summer, possibly as soon as next month. The [...]
The law firm boss who’s not moving anywhere but up April 1, 2012 LAST weekend, Bryan Hughes found himself hanging 50ft above the ground, attached to nothing but a rope. In an effort to face his son’s fear of heights he’d taken him on the high wires at Center Parcs, but when they reached the highest point Hughes found himself feeling a growing sense of panic. “I made [...]
Facebook’s float could be the kick the markets need April 1, 2012 IT will be one of the biggest market events of the year. Yes, I’m referring to Facebook’s Initial Public Offering (IPO) – and D-Day is getting ever closer. The company filed to go public in February, and last week trading of its shares was halted on the secondary market as it tries to cement its [...]
OLYMPIC MEDIA BUZZ LONDON 2012 PARTNERS April 1, 2012 IN ASSOCIATION with Repskan.com, City A.M. is measuring the relative Olympic media buzz around the London 2012 Olympic and Paralympic Games partners, week by week. The leaderboard, right, reflects their ranking over the past week, in this case from Wednesday 21 March to Wednesday 28 March. Samsung often receives a similar volume of online mentions [...]
