Entertainment One set to take over Alliance October 1, 2012 ENTERTAINMENT ONE yesterday announced it had won shareholder approval for its C$225m (£142m) takeover of movie distributor Alliance Films, and said it had seen an improvement in business in the first half of the financial year. London-listed Entertainment One, which distributes films and television series in the UK, US, Canada and several other countries, said it [...]
Book firm Quarto slams rebel investors over coup attempt October 1, 2012 BOOK publisher Quarto hit out at a group of shareholders aiming to oust current chief executive Laurence Orbach yesterday, as it set the date for a showdown that will decide the future of the company. A rebellion by two shareholders that own 20 per cent of Quarto between them and are represented by Harwood Capital’s [...]
Former Amazon UK head set to take Asos chair October 1, 2012 ONLINE fashion retailer Asos revealed yesterday it has hired the former managing director of Amazon UK to be its new chairman, replacing Waheed Alli, who will step down after 12 years with the firm. Brian McBride, who spent six years at the helm of Amazon’s UK business, will succeed Lord Alli at the beginning of [...]
AstraZeneca stock plunges as firm ends share buyback plan October 1, 2012 DRUGMAKER AstraZeneca’s share price plunged yesterday after it suspended its share buyback programme, giving its new chief executive room to step up investment and make acquisitions. The Anglo-Swedish company, which has suffered a string of clinical trial failures and faces patent expiries, said it was halting the programme after buying back shares worth $2.3bn (£1.4bn) [...]
Axa Real Estate hunts for cash October 1, 2012 AXA Real Estate Investment Managers yesterday unveiled a fresh round of fundraising that will bring €2bn (£1.6bn) into its war chest for new investments by the end of the year. The French group has already raised €1.4bn in new capital so far this year, and will target investors in Germany, the Netherlands, the Nordics and [...]
Hammerson exits city with £200m sale October 1, 2012 HAMMERSON yesterday announced the £200m sale of its last remaining office building in the City as it moves closer to its goal of focusing solely on retail property in the UK and France. The FTSE-listed firm has sold 10 Gresham Street to KWAP, the Malaysian state pension fund, leaving Hammerson with one remaining office for [...]
British Land sells Cambridge mall October 1, 2012 British Land said yesterday it has sold the Beehive Centre in Cambridge to Orchard Street Investment Management for £109.2m. The 238,000 square feet retail park, bought by British Land in 1998, is anchored by a 70,000 sq ft Asda store and has 15 other tenants including TK Maxx and Next Home. Orchard Street said the [...]
St Modwen annual profits on track October 1, 2012 St Modwen said it continued to perform well in the three months to 30 September and it remained on track to deliver full year profits ahead of last year. The developer said it is close to finalising terms for the regeneration of Elephant & Castle shopping centre with Southwark council and adjacent landowner Lendlease, and [...]
Tortilla fuels expansion plans October 1, 2012 Mexican restaurant chain Tortilla has secured £2.25m in fresh funding from Santander to help pay for its expansion. Tortilla’s private equity investor Quilvest said yesterday the group will open three new outlets in the UK, including one opposite Trafalgar Square, taking its total in the country to 11. It is also in talks to take [...]
Mass upgrade as banks’ cost of equity drops October 1, 2012 BRITISH banks have built up capital levels and cut down leverage more successfully than their European rivals, and should soon reap the benefits in a lower cost of equity, Liberum Capital forecast yesterday. And if the Eurozone stabilises further, risks to the industry outlook will fade and banks will be in an even stronger position, [...]
