Hilton Hotels float raises $2.3bn giving Blackstone huge profits December 11, 2013 INVESTORS checked into Hilton Hotel last night after the private equity-backed chain priced its initial public offering (IPO) near the top end of the range. The company, which was backed by Blackstone in 2007, priced its shares at $20 a piece – raising about $2.34bn after selling 117.6m shares to investors. The IPO is the [...]
Apax Partners picks co-leaders after chief quits December 5, 2013 APAX, the private equity firm behind fashion chain New Look, yesterday handed the keys of the company to two rising stars, part of a new breed of young executives leading buyout houses across Europe. Andrew Sillitoe, 41, and Mitch Truwit, 44, have been named co-chief executive officers, taking over from Apax co-founder Martin Halusa who [...]
New York Report: Wall St falls for fourth trading session in a row December 4, 2013 THE Dow and the S&P 500 finished lower for the fourth consecutive session yesterday after investors found few reasons to make big moves, with uncertainty remaining over when the Federal Reserve will start to slow its stimulus. Stocks fell for much of the session, but edged closer to break-even levels in the last hour of [...]
Hilton hotel and Aramark price New York floats December 2, 2013 THE US new issues market showed no signs of slowing down yesterday after two American hospitality giants with substantial UK operations priced their forthcoming market floats. Hotel operator Hilton Worldwide and catering company Aramark, both backed by private equity firms, announced plans to raise up to $2.37bn (£1.44bn) and $833.8m respectively in initial public offerings [...]
What the other papers say this morning – 02 December 2013 December 1, 2013 FINANCIAL TIMES Mass demonstrations shake Kiev Viktor Yanukovich, Ukraine’s president, was under escalating pressure on Sunday night as hundreds of thousands of protesters poured onto the streets of Kiev demanding the overthrow of his government, after it sought to strengthen relations with Russia at the expense of the EU. With the number of protesters estimated [...]
Fiat boss rules out flotation of Chrysler unit before end of 2013 November 25, 2013 ITALIAN car-maker Fiat said yesterday that a planned initial public offering (IPO) of its US unit Chrysler will not take place this year, prolonging the uncertainty over whether it can reach a deal to buy the stake in the group it does not already own. Yet late last night Chrysler amended its S1 filing with [...]
Trader gets 30 months after Apple wire fraud November 20, 2013 A FORMER trader was sentenced to two-and-a-years in prison yesterday for an unauthorised purchase of about $1bn in Apple stock that eventually led to the demise of financial services firm Rochdale Securities. David Miller, 41, was sentenced by US District Judge Robert Chatigny in Hartford, Connecticut, seven months after pleading guilty to wire fraud and [...]
Burger King takes its first bite into India with joint venture November 20, 2013 BURGER King’s Whopper burgers will be available in India for the first time, after it yesterday announced plans to open its fast food chain in the world’s second most populous country. It will partner with private equity firm Everstone, which specialises in India and South East Asia, to set up a supply chain and establish [...]
Intercontinental completes New York takeover November 12, 2013 INTERCONTINENTAL Exchange’s takeover of NYSE Euronext is complete and stock of the combined company will begin trading under the symbol ICE today, the head of ICE confirmed last night. The deal, which was worth $10.9bn as of 1 November, gives ICE control of Liffe, Europe’s No2 derivatives market, as well as the New York Stock [...]
What you need to know before the open – 08/11 November 8, 2013 Losses in both the US and Asia, after Twitter's strong debut onto the New York Stock Exchange sparked fears of a brewing tech bubble, will see the FTSE100 open -35pts at 6660, says Mike van Dulken, head of research at Accendo Markets. Morning call: we are calling the #FTSE +7 at 6753. — DavidMadden_IG (@DavidMadden_IG) November [...]