Equistone exits travel firm ATPI in ICG-backed manager buyout December 3, 2012 PRIVATE equity house Equistone Partners yesterday said it had sold its portfolio company ATPI, a global travel firm, to management in a buyout backed by Intermediate Capital Group. Terms of the deal were not disclosed but Equistone Partners Europe director John Walker said the exit generated a “good return” for investors. Equistone snapped up ATPI [...]
Why does Paragon want to buy Hampshire trust? December 3, 2012 PETER LENARDOS RBC CAPITAL MARKETS They could want the banking licence to offer term deposits to fund their consumer finance business. This would diversify Paragon’s sources of funding and make it less reliant on the wholesale funding markets. However, there would be a duration mismatch. GARY GREENWOOD SHORE CAPITAL I would expect the platform to [...]
CWC rings the changes in sale of Monaco arm December 3, 2012 CABLE & Wireless Communications (CWC) has agreed to sell its operations in Monaco and a number of island nations for a sum of up to $1.025bn (£638m). The sale to Bahraini telecoms firm Batelco frees CWC from control of a range of dispersed assets in Monaco, the Channel Islands, the Isle of Man and a [...]
Shares in IT group Datatec slide on surprise earnings warning December 3, 2012 IT GROUP Datatec yesterday issued a shock profit warning, owing to a worse than expected performance in its biggest division. The company said that its technology business Westcon had been hit by “weak conditions in Europe, disruption in North America due to Hurricane Sandy and lower than expected [US] Federal business,” in its third quarter. [...]
William Hill’s Sportingbet deal delayed further as it hits rocks December 3, 2012 WILLIAM HILL’S takeover of online bookie Sportingbet is being pushed back again, the companies will announce today, in the second extension of the drawn-out deal. The parties, which also include William Hill’s partner GVC Holdings, had set today as a deadline but the complexity of the three-way talks have forced negotiations back further, sources close [...]
Nokia JV sells assets in push to cut costs December 3, 2012 Mobile telecoms equipment joint venture Nokia Siemens Networks, which is focusing on its core business, will sell its optical fibre unit to US investment firm Marlin Equity Partners. Up to 1,900 employees, mainly in Germany and Portugal, will be transferred to the new company, the company said yesterday. The sale price was undisclosed but estimated [...]
Sportech bags veteran Schreff for executive role in Americas December 3, 2012 GAMBLING firm Sportech has underlined its commitment to growth across the pond by appointing a chief operating officer for the Americas region. The pools operator has brought in David Schreff, a sports and media industry veteran, to oversee the fledgling businesses in the US, Caribbean, and Latin America. “This senior appointment represents an important next [...]
Miller supports self-regulation December 3, 2012 CULTURE secretary Maria Miller challenged Britain’s newspapers to implement an acceptable system of self-regulation yesterday, as she warned that the state may intervene if the industry does not respond to the proposals put forward by the Leveson report. Clashing with her Labour counterpart Harriet Harman in the House of Commons, Miller echoed last week’s comments [...]
Ericsson seeks US ban on Samsung December 3, 2012 Swedish telecoms gear maker Ericsson has filed a request with the US International Trade Commission to ban US imports of products made by South Korean group Samsung. The request from Ericsson, which said yesterday the products infringe on its patents, came after it sued Samsung for patent infringement in a US court last week. Samsung [...]
Computer Sciences sells credit unit December 3, 2012 US technology services provider Computer Sciences said yesterday it will sell its credit services unit to business information provider Equifax Inc for $1bn in cash, and record after-tax proceeds of about $750m to $800m. CSC, currently valued at about $5.91bn, said the sale of its credit services unit would help it focus on its technology [...]
