Japanese deal for ProStrakan February 21, 2011 Japanese group Kyowa Hakko Kirin has agreed to buy Scottish drug firm ProStrakan Group for £292m, marking a further expansion by Japan’s drug industry into foreign markets. The Japanese group will pay 130p a share in cash, a 41 per cent premium to ProStrakan’s share price on 12 November, the last business day before the [...]
Oxford St property swap for GPE February 21, 2011 Property firm Great Portland Estates (GPE) has swapped one of its properties on London’s Oxford Street for two others. The company has swapped its freehold interest in 79/89 Oxford Street with a private investor in return for a new 250-year leasehold interest at both 79/89 Oxford Street and the adjoining property, 73/77 Oxford Street. The [...]
Alibaba executives step down February 21, 2011 Alibaba.com has replaced its chief executive and chief operating officer after a noticeable increase in fraudulent transactions at the Chinese e-commerce firm’s website. Chief executive David Wei Zhe and Lee Shi-huei Elvis have resigned. The company said that Lee and Wei were not involved in any of the claims, and had made good faith efforts [...]
Another one bites the… pub February 21, 2011 The Fox & Grapes 9 Camp Road, Wimbledon Common, SW19 4UN. Tel: 020 8619 1300 FOOD SERVICE ATMOSPHERE Cost per person without wine: £28 GORDON Ramsay did it, Heston’s done it, Marco Pierre White did it first, the chaps at the Ledbury have done it and won an extra Michelin star in the process. These [...]
Diageo buys Turkish firm in £1.3bn deal February 21, 2011 DIAGEO, the world’s biggest spirits maker, yesterday confirmed a deal to buy the Turkish spirits group Mey Içki for £1.3bn, in its latest move to attract middle class drinkers in emerging markets. The London-based maker of Johnnie Walker whisky and Smirnoff vodka is buying Turkey’s biggest spirits company from investment firms TPG Capital LP and [...]
Prepare to join the Stepford cult of Android February 21, 2011 MWC is a phone show that inspires the kind of rabid, frothing fanaticism usually reserved for Star Trek conventions. Ramping it up to fever pitch this year was Google, which littered almost every stall with bowls full of pin badges promoting its mobile operating system. There were 86 different variations (Androids with rocket packs, Androids [...]
FOUR PLAY: the mercury rises too high February 21, 2011 ROOM 400. I smile. I have to admire Sandy’s fastidiousness. He wants this deal brought in at 400 basis points over Libor. My room reservation is his idea of a gentle reminder. 450 would have been a threat and anything on the fifth floor and I’d be on the phone to a decent headhunter. I [...]
Ocado hit by boss share sale February 21, 2011 OCADO shares took a tumble yesterday after chief executive Tim Steiner sold £5m worth of Ocado stock. Steiner’s move – plus the announcement that Waitrose was planning to revamp its own online delivery service – saw the stock close down 7.75 per cent at 239p. Waitrose, which has a ten-year contract with Ocado to supply the [...]
JJB seals £31.5m lifeline as share sale saves it from administration nightmare February 21, 2011 SPORTSWEAR retailer JJB Sports has raised £31.5m in a share sale which has bought it time to try to reverse its fortunes. The firm, in which America’s richest man Bill Gates holds a stake of about 5.5 per cent, said yesterday the cash was raised in a firm placing and an open offer of 630m [...]
Brewing up a storm February 21, 2011 LIKE so many people, I take my food and wine seriously. I won’t drink unnaturally pink California zinfandels and I turn my nose up at Jacob’s Creek. Wine-tasting courses and many meals in good restaurants have left their imprint. I care about quality – I’m a snob, and I’m not afraid to show it. Why [...]
