Apollo teams up with Mukesh Ambani in bid for Boots April 27, 2022 Buyout giant Apollo has teamed up with India’s second-richest man Mukesh Ambani to launch a bid for Boots, as the race to takeover the chain enters the final stretch.
Boots sets mid-May deadline as owner seeks multi-billion sale April 26, 2022 Boots’ owner has set a deadline of 16 May for final offers for the chemist chain. Walgreens Boots Alliance’s (WBA) has issued the deadline to suitors as it seeks to sell the chain, Sky News has reported. Suitors expected to make final proposals include Asda and Apollo Global Management. However, India’s Reliance Industries was thought [...]
Households face extra £271 on annual food bill as grocery inflation highest since 2011 April 26, 2022 Households are facing an additional £271 to their grocery bill, with price inflation now standing at the highest level in over a decade. According to fresh data from Kantar, grocery price inflation has reached 5.9 per cent, the highest level since December 2011. Brits are facing a slew of price increases this spring, as businesses [...]
Price war: Asda and Morrisons slash prices as supermarkets battle to woo shoppers April 25, 2022 Supermarkets are vying to win shoppers hunting for cheaper deals, as Asda and Morrisons become the latest to announce price cuts. Asda, owned by the billionaire Issa brothers, has said it will inject more than £73m into ensuring the prices of more than 100 essential items are low, until the end of the year. Meanwhile, [...]
EG Group to create 22.7k UK jobs by 2026 as Issa brothers’ food service arm swells April 21, 2022 Petrol forecourt operator EG Group has said it will create some 22,700 jobs in the UK in the next four years. The billionaire Issa brothers’ company has said it will provide some 32,000 jobs across the world over the next few years, thanks to investment in its foodservice arm. Jobs will be created across EG’s [...]
Prices rising fast: Brits face acute egg shortage as spiralling hen food costs and energy bills lead to mass exodus of farmers April 20, 2022 UK customers could face empty shelves as an exodus of British egg farmers is caused by a lack of support from supermarkets amid spiralling costs, industry players warned today. Farmers have previously called on supermarkets to increase their egg prices due to soaring feed and energy costs in the production process. However, the industry has [...]
Driving seat: Uber picks up former British Airways exec as UK lead April 19, 2022 A former Aviva and British Airways executive has been selected to take a role in the driving seat of Uber's UK division.
Asda buyer TDR Capital marks 20-fold return on supermarket takeover with £1.4bn stake April 19, 2022 One of Asda’s owners has valued its stake in the supermarket at almost 20 times the sum it paid in a blockbuster takeover last year. According to The Financial Times, private equity firm TDR Capital informed investors it has placed its stake at 19.8 times the orginial investment in the grocer. The US firm, alongside [...]
Fortress and TDR Capital among potential future bidders for £600m holiday chain Butlins April 13, 2022 Seaside resort chain Butlins could be subject to a fierce bidding war with Sky News reporting that some big names in leisure are mulling takeover bids. According to the news organisation, suitors looking at snapping up Butlins include Fortress Investment Group, the owner of Punch Taverns. Another high-profile bid could be launched by TDR Capital, [...]
Morrisons slapped with ‘speculative’ rating after takeover leaves chain saddled with debt April 12, 2022 Morrisons has been slapped with a ‘speculative’ rating by a top credit agency after the private equity takeover of the chain last year left it saddled with debt.