Time Out is close to signing a deal for new “flagship” London food market October 5, 2016 Time Out – the magazine publisher that recently listed on the London junior market – is expected to announce it has leased premises for a London food market in coming weeks, City A.M. understands. The group is close to signing a deal for a location thought to be around Kings Cross, Covent Garden, or Camden. The London food [...]
Megabrew merger between AB InBev and SABMiller inches closer as SAB shares suspend trading on London Stock Exchange October 5, 2016 Shares in British drinks giant SABMiller suspended trading on the London Stock Exchange this morning as the Megabrew merger between SAB and Belgian beer giant Anheuser-Busch InBev inches closer. Yesterday, the UK's High Court gave its approval to AB InBev's £79bn takeover and the holding company for the combined company, Newbelco, listed 1.7bn shares on the Johannesburg [...]
Megabrew holding company lists in Johannesburg as SABMiller prepares to leave the London Stock Exchange October 4, 2016 The holding company for the Megabrew merger listed on the Johannesburg Stock Exchange (JSE) today, while SABMiller shares will be suspended in London tomorrow morning ahead of the long-awaited tie-up. Newbelco SA/NV, which will be renamed Anheuser-Busch InBev SA/NV when the £79bn takeover completes next week, listed 1.7bn new ordinary shares on the main board [...]
Deutsche Bank shares plunge to new record low in fresh morning turmoil September 30, 2016 Deutsche Bank shares have crashed another eight per cent this morning as the German stock markets opened for trading. The lender was plunged into fresh turmoil last night as a string of key clients said they were cutting back on the amount of assets they store with the lender, raising fears some in the market [...]
City Moves for 30 September 2016 | Who’s switching jobs September 30, 2016 KPMG KPMG has appointed Paul Martin as UK head of retail. Paul will succeed David McCorquodale who has led KPMG’s retail practice in the UK since November 2012 and will be retiring at the end of April 2017 after 32 years with the firm. Paul is managing director of KPMG Boxwood and was formerly managing director of Planet Retail, [...]
Cheers: SABMiller shareholders vote in favour of AB InBev’s £79bn Megabrew takeover September 28, 2016 SABMiller investors have given the green light to Anheuser-Busch InBev’s £79bn Megabrew merger. Minority shareholders for the FTSE 100 drinks giant voted overwhelmingly in favour of the deal, one of the largest in corporate history, with more than 95.5 per cent of votes cast in support. All shareholder hurdles for the mega-merger have now been passed, [...]
Analysts fear Deutsche Bank could become Europe’s Lehman Brothers September 27, 2016 The misery for Deutsche Bank continued this morning as shares continued to slide to fresh record lows. The German lender has seen its share price lose 30 per cent in the last three weeks and was hit by a new round of selling this morning, as shares dropped 3.3 per cent to €10.20 (£8.86). The latest slide [...]
London still in the running for mega-IPO post-Brexit vote, Saudi Aramco says September 26, 2016 Saudi Aramco confirmed today that it's considering listing what could be the world's most valuable company in London. It comes despite warnings from a string of financial firms that the UK's vote to leave the European Union could push them to relocate outside of the City. Read more: Saudi Aramco set to be valued at more than $2 [...]
Marriott and Starwood have finally sealed their $13bn deal September 23, 2016 Marriott International said today it has finally completed the $13bn (£9.9bn) acquisition of Starwood Hotels, creating a $36bn hotels giant with 1.1m rooms. The deal has been beset by delays, including an eleventh-hour bid by a Chinese consortium which nearly scuppered Marriott's bid altogether, and a 60-day delay imposed by the Chinese ministry of commerce. Starwood shareholders will receive [...]
Gender is secondary at Walmsley’s GSK September 23, 2016 If the patient isn't responding, change the medicine: that's been the crude, but long-running, summary of some investors' prescription for Britain's biggest pharmaceuticals group. So for GlaxoSmithKline (GSK) investors, the least important aspect of Emma Walmsley's appointment as its next chief executive is her gender. That doesn't make it unimportant, of course: as the global [...]