Stop blaming private equity, without it small businesses would be strapped for cash September 15, 2021 Private equity has been branded the bad guy for snapping up pandemic-hit business. After household names such as Asda were bought up, there was an immediate flood of warnings about price hikes. But private equity’s role as a pantomime villain is worn out. Big leveraged buyouts are attention grabbing, but private equity plays a vital, [...]
CEOs plot acquisition spree as UK recaptures global attention September 14, 2021 With AA motoring group, Asda, Morrisons and Stock Spirits taken over by private equity firms such as CVC, the UK market has recaptured the globe’s attention, having seen an unprecedented wave of deals. Stemming from initial undervaluations due to Covid-19 and Brexit, on average, UK companies were being undervalued by around 30 per cent, according to recent data from Schroders. [...]
Take the sting out of Christmas spending September 13, 2021 Spread the financial pressures of Christmas with the Asda Christmas Savings Card. Set up automatic top-ups online to put away money each month or top up anytime in-store or online and receive free a bonus on your card when you save £30 or more. The choice is yours — you can choose to spend your [...]
Petrol station firm EG Group mulls ‘potential $15bn sale’ September 9, 2021 Petrol station forecourt giant EG Group is reportedly mulling options for its future, including a potential sale. Bloomberg reported that a deal to sell the company, which is backed by the billionaire Issa brothers and private equity firm TDR Capital, could fetch as much as $15bn. The firm could also go for an initial public [...]
Out with the old, in with the Issas: Asda execs quit as supermarket plots 230 petrol station stores September 3, 2021 In the first full quarter trading update since billionaire brothers Mohsin and Zuber Issa bought Asda for £6.8bn last year, the supermarket chain announced two more top executives were leaving, as it ramps up its petrol convenience store business. The UK’s third-largest supermarket today announced that both chief operating officer Anthony Hemmerdinger and chief strategy [...]
UK hiring woes: Amazon lures new recruits with £1,000 joining bonus August 25, 2021 E-commerce giant Amazon is offering new warehouse recruits a £1,000 joining bonus as it looks to attracts staff amid a mounting hiring crisis. The group is advertising for “urgently needed” warehouse pickers and packers across the UK to help meet booming online shopping demand. Job ads on the Indeed website reveal it is offering to [...]
Sainsbury’s shares rocket: Investors eye supermarket’s property portfolio August 23, 2021 Sainsbury’s shares were up 15 per cent cent after reports that a private equity giant is poised to launch a bid topping £7bn. Shares in J Sainsbury rose by 15 per cent on Monday to 338.89p, after closing on 294.70p. Apollo Global Management is reportedly considering a bid for the supermarket after previously losing out [...]
Morrisons’ messy and dramatic takeover battle: Where are we now? August 20, 2021 Morrisons agreed a £7bn offer late last night in the latest twist in the UK supermarket chain’s dramatic takeover battle. Shares jumped this morning after investors digested the new deal from US private equity firm Clayton, Dubilier & Rice (CD&R). It comes weeks after a rival bidder, a consortium led by private equity rival Fortress, [...]
Bidding war for Morrisons heats up as US private equity giant makes £7bn move August 20, 2021 A fresh £7bn bid for supermarket chain Morrisons has been put forward by US private equity firm Clayton, Dubilier & Rice (CD&R). The deal has been unanimously accepted by the board of the grocer and directors have said shareholders should vote in favour of the takeover at a meeting due in early October. It means [...]
Ocado sales dip as pre-pandemic habits return, supermarket data finds August 17, 2021 The UK’s return to normality has been accompanied by a return to pre-pandemic shopping habits, with online and overall grocery sales declining. The latest grocery market share figures from Kantar for the period ending 8 August show that grocery sales fell by four per cent. The latest twelve weeks saw the lowest level of online [...]