Wood Group buys rival PSN December 13, 2010 OIL and gas services company Wood Group has agreed to buy its smaller rival PSN in a deal worth $955m (£602m) that will create one of the worlds largest providers of services to the oil and gas industry. The deal will see Aberdeen-based PSN become part of Wood Group’s brownfield division, which devotes its time [...]
JPMorgan tops brokers poll December 13, 2010 JPMORGAN Cazenove has proved its worth as a broker, banker and adviser over the past five years, new analysis showed yesterday. The bank has stayed in pole position from its 2005 ranking to lead the November 2010 table of stockbrokers and advisers, as well as stockbroking rankings for FTSE100, FTSE250 and small cap clients produced [...]
RBC Capital acquires Loudoun as it continues expansion effort into Europe December 13, 2010 Royal Bank of Canada (RBC) said yesterday it had acquired boutique financial advisers Loudoun Capital Partners for an undisclosed sum as part of its continuing expansion efforts in Europe. The bank which replaced Citigroup as advisers to Resolution, the life funds group run by Clive Cowdery last month, said the acquisition of Loudoun, which will [...]
Yule Catto launches £225m rights issue to buy Germany’s PolymerLatex for £130m December 13, 2010 CHEMICALS maker Yule Catto yesterday said it had agreed to buy Germany-based latex maker PolymerLatex for €157m (£131m) to boost its market share, product offering and pipeline. Yule Catto, which will also assume €286m in PolymerLatex debt, plans to fund the acquisition from a combination of a four-for-three rights issue that would raise about €225m [...]
Creston to snap up US PR firm Cooney/Waters December 13, 2010 Communications firm Creston has snapped up US healthcare PR operation Cooney/Waters in a £19.5m deal. The transaction will come in three stages, including a £5.9m upfront payment to be financed from existing bank facilities and two subsequent payments in 2014 and 2017. Creston says it expects the acquisition to be earnings enhancing in the first [...]
METRO BANK SECURES £50M FOR EXPANSION December 13, 2010 METRO BANK, launched in July as Britain’s first new high street retail bank in more than 100 years, has raised £50m of new capital from investors to further develop its business. The latest round of capital raising builds on an initial £75m secured earlier this year, and the company said the new cash will help [...]
India delays Cairn ruling once again December 13, 2010 INDIA’S oil ministry has again delayed a decision on whether to allow British oil explorer Cairn to sell a majority stake in its Indian unit to Vedanta Resources. Murli Deora, the country’s oil minister, said the decision would not be made before the end of India’s financial year in March. “We have to move with caution. [...]
Weir guilty over oil for food December 13, 2010 Engineering firm Weir Group announced yesterday it would plead guilty to two charges of breaching UN sanctions over oil-for-food contracts it was awarded by Saddam Hussein between 2000 and 2002. Weir was formally charged with the offences by the Crown Office in Scotland yesterday and it is expected the case will be heard at the [...]
Supermarket chains halt Xmas orders in Scotland after weather takes its toll December 13, 2010 SUPERMARKETS and online shops – including Tesco, Sainsbury’s and Asda – have halted orders or suspended deliveries, after last week’s heavy snow weather brought the transport network to a standstill. Many are struggling to cope with a backlog of deliveries after strong downfalls. Couriers including Parcel Force and Home Delivery Network have also been affected, as [...]
Jon Moulton buys 58pc of E-Synergy December 13, 2010 JON Moulton has bought a controlling stake in venture capital and professional development firm E-Synergy. The private equity guru will buy 58 per cent of the Belfast-based company, which also has operations in the East Midlands and Scotland, for an undisclosed sum. E-Synergy specialises in working with entrepreneurs to help them maximise returns out of [...]
