Private equity firm Elliott joins £500m takeover race for Reiss June 21, 2023 US private equity firm Elliott Advisors has reportedly joined the race to takeover upmarket fashion brand Reiss from its current stakeholders Next and Warburg Pincus. Elliott has expressed interest in buying the fashion brand for upwards of £500m, Sky News has reported. Up to three parties are also keen to buy the brand, which is [...]
Karshare journey ends as firm runs out of cash and calls in administrators June 20, 2023 Karshare, the car rental service which raised nearly £10m from a number of wealthy owners, has ceased trading today after running out of cash. It has appointed accountancy firm Azets as an administrator, according to Sky News’ Mark Kleinman. The firm had previously raised close to £10m from a number of wealthy investors, including former [...]
Lookers: UK car dealership firm agrees to £465.4m buyout by Canada’s Alpha Auto June 20, 2023 British car dealership giant Lookers has agreed to be bought out by Canada’s Alpha Auto Group (AAG) after it launched a £465.4m acquisition, continuing a string of corporate deals in the sector. Global Auto Holdings Limited – the bidding vehicle for the takeover – announced the acquisition this morning, with the bid worth 120p per [...]
Bank of England risks steering UK into needless recession with more interest rate hikes June 20, 2023 Back in November, the Bank of England took the highly unusual step of explicitly telling financial markets to calm their sky high bets on where interest rates might end up. “Should the economy evolve broadly in line with the latest monetary policy report projections, further increases in bank rate may be required for a sustainable [...]
Pinewood-owner Aermont to enter £4bn race for Center Parcs June 19, 2023 Specialist real estate investor Aermont is likely to join the £4bn race for holiday resort chain Center Parcs, as reported by Sky News. Aermont, which operates in Europe, would join confirmed bidders KSL Capital Partners operating with Singapore’s Government Investment Corporation, and buyout giant CVC Capital Partners. Former Center Parcs owner Blackstone and infrastructure fund Antin are [...]
Banks tell Sunak that big tech firms need to do more to tackle fraud June 18, 2023 A group of the UK’s largest banks have told Prime Minister Rishi Sunak that big tech firms should help contribute to the reimbursement of fraud victims. According to Sky News, the banks said the rising tide of fraud in the UK is having a “material impact on how attractive the wider UK financial sector is [...]
Moeen punished for spraying substance on hand during Ashes June 18, 2023 England’s returning cricketer Moeen Ali has been fined 25 per cent of his match fee after admitting to spraying an unauthorised drying agent on his hands. The all-rounder was standing on the boundary on the second day of the first Ashes Test between England and Australia. Moeen – who has returned to the Test side [...]
Explainer: Will Team Boris ever leave Rishi alone? June 16, 2023 Imagine you’ve finally made it to the top. For years you’ve been in second position, waiting for the right time, and now there you are: you’ve stolen the top seat and finally got rid of your blonde-haired, chaotic predecessor. He’s out of your way, and you can finally relax and focus on the things you’re [...]
Zinc Media June 15, 2023 Zinc Media Zinc Media Group is the UK’s leading integrated content creation company dedicated to the development and production of premium content for global broadcasters and commercial film and audio for brands and corporate clients. The group own and operate seven production companies, that produce award-winning television and film for the UK’s biggest broadcasters, international [...]
Mark Kleinman: The must-read City column June 15, 2023 Mark Kleinman, City editor of Sky News, writes fortnightly for City A.M. This week he opines on the ICAEW, Eton's new Provost and the future of the Telegraph