IG sees record-breaking quarter November 25, 2014 ONLINE trading company IG Group will break its own quarterly revenue record when it reports its second quarter results today, the group announced yesterday in a pre-close trading update. The spread betting specialist said that in contrast to its subdued first quarter, client activity levels increased significantly in the second quarter, particularly in October, with [...]
Blackstone rejects $2bn offer for Center Parcs as it mulls a flotation November 24, 2014 London-based private equity firm BC Partners and the Canada Pension Fund (CPP) have had $2bn (£1.27bn) joint takeover offer for Center Parcs rejected by owner Blackstone Group. US investment conglomerate Blackstone is understood to have rejected the offer because it undervalued the British holiday park operator. A report on Sky News last night said it [...]
Aim withdrawal on the cards for Bank of America November 24, 2014 Bank of America Merrill Lynch (BAML) looks set to withdraw its status as a nominated adviser (nomad) on Aim, reports revealed yesterday. BAML’s departure would leave only three remaining large “bulge bracket” banks advising Aim-listed companies. It would also leave oil and gas firm Bowleven without a nomad. A number of the big investment banks [...]
Focusrite IPO: Audio products company looks to amplify growth with Aim listing November 24, 2014 British music and audio products company Focusrite yesterday announced its intention to float on London’s Alternative Investment Market (Aim). The High Wycombe-headquartered company provides hardware and software products for musicians. It has two established brands: Focusrite, which makes audio interface and other products for audio recording musicians; and Novation, which allows customers to make electronic [...]
Constellation aims for float November 24, 2014 US healthcare services organisation Constellation yesterday announced its intention to float on Aim and raise a minimum of £10m. Constellation – which provides outsourcing services to US doctors – will use the proceeds of the placing to make and integrate selective acquisitions as well as for general working capital. Finncap is the firm’s nominated adviser [...]
Fortnum & Mason reports record profits as it boosts local footfall November 23, 2014 Iconic food and gift retailer Fortnum & Mason reported record full-year profits today on the back of its strategy to attract more local Londoners into the shop. For the year up to July 2014, the 307-year-old retailer increased sales by 14 per cent to £74.4m and boosted profit before tax to £3.8m – more than [...]
Quindell broker quit after being left in the dark November 23, 2014 A lack of information, rather than concerns over Quindell’s financial position, was the reason Canaccord Genuity resigned as the insurance outsourcer’s joint broker in October, it emerged last night. A source close to the stockbroker told City A.M. that it decided to leave the beleaguered Quindell after a “breakdown in dialogue” between the companies had [...]
Terra Firma appoints Blackstone for Four Seasons November 23, 2014 Terra Firma has hired Blackstone Group to look into “a number of financial and strategic matters” at its Four Seasons Health Care business, a source close to the company told City A.M. last night. The news follows rumours that Terra Firma, the British private equity giant owned by Guy Hands, is looking to break up [...]
Private equity firms circle as P&G puts Braun in the window November 23, 2014 A number of Europe’s largest private equity firms are drawing up bids for Braun, amid speculation that parent company Procter & Gamble is looking to sell the German consumer goods brand. Procter & Gamble, the US consumer goods giant, is rumoured to be putting Braun up for the sale in a few months, with a [...]
Board of BlackRock Hedge Fund Selector considering liquidation November 20, 2014 MONOLITH US investment manager BlackRock is considering closing its £34m BlackRock Hedge Selector trust as it nears the end of a shareholder consultation, the company said in a statement yesterday. The board of the trust – formerly run by fund manager Richard Plackett – started the consultation in early September to review the trust’s investment [...]
