Private equity firm BC partners exits Sabre Insurance with £116m share sale September 5, 2018 Sabre Insurance founder Angus Ball and private equity fund BC Partners today sold £116m shares in the car insurance company. The share sale means that former majority shareholder BC Partners has sold its remaining holding in the company while Ball now holds a 1.8 per cent share. Read more: Private equity firm Apollo takes Aspen [...]
Insurer D&G weighs up return to London Stock Exchange September 4, 2018 Household insurance provider Domestic & General (D&G) is considering a return to London’s stock market after an 11-year absence in a potential listing that would value the company at £1.5bn. CVC Capital Parters, the private equity fund that owns D&G, has appointed Rothschild to advice the firm over plans for an initial public offering (IPO), [...]
Fitness advice: Why weight DOES matter, despite what you might hear from the PT industry September 4, 2018 There’s a big movement in the fitness industry at the moment that’s all about “body positivity” and embracing your physique no matter what shape or size you are. If you follow any personal trainers on social media you’ve probably seen them talking about how they focus on “health” and “happiness” rather than weight loss, with [...]
Insurance giant Munich Re buys internet of things company Relayr in $300m deal September 4, 2018 Insurer Munich Re announced today the acquisition of tech company Relayr which focuses on the “internet of things” in the industrial sector. The deal values the company at $300m (£233m) and is part of Munich Re’s move to create new business models in the industrial internet of things sector. Read more: Private equity firm Apollo takes Aspen [...]
Value of inward UK M&A deals falls by £15.8bn September 4, 2018 The value of mergers and acquisitions (M&A) of UK companies by foreign businesses fell by £15.8bn between April and June this year. The drop, from £22.3bn to £6.5bn, reflected the absence of high-value transactions that were seen in previous periods, the Office for National Statistics (ONS) said. Read more: Petrol station merger could drive up fuel prices, [...]
Masternodes: A Crypto asset you need to know about! September 4, 2018 Master what?’ is a common reaction from crypto investors when they first hear about Masternodes. Yet these new crypto assets, which provide a reliable passive income, have experienced tremendous growth and are set to become the underlying infrastructure of the crypto economy. Last October there were just 30 cryptocurrencies that supported Masternodes, while today there [...]
Europe will always be a major partner, but London’s future lies with the whole world September 3, 2018 Last week I was delighted to join the Prime Minister’s business delegation as we visited three growing and outward facing African nations. As the lord mayor of London, I will spend over 100 days of this year visiting between 25 and 30 countries, selling this great city all over the globe – from Tokyo to [...]
Exclusive: Asian buyer nears £425m deal for Commerzbank HQ September 2, 2018 Commerzbank’s London HQ is set to be sold in a deal worth almost £500m to an undisclosed Asian buyer later this week, City A.M. understands. An agreement for 30 Gresham Street, which was put on the market by Samsung Life Insurance earlier in the summer, is reportedly nearing its final stages, as the burgeoning Asian demand [...]
Lloyd’s exits continue as chief commercial officer departs August 31, 2018 Exits from the C-suite at Lloyd’s of London are set to continue with the insurance market today announcing that its chief commercial officer Vincent Vandendael is leaving to join Everest Insurance as chief executive of international insurance. Vandendael’s resignation follows that of chief executive Inga Beale who is leaving Lloyd’s early next year and chief financial [...]
New car hire app Virtuo sidesteps all the usual pains of London car rentals August 30, 2018 By far the least entertaining part of renting a car is having to stand around inside a hermetically sealed fartbox of a portacabin on the edge of some rainy industrial estate, before a 17-year-old in an oversized suit throws you the keys to an old banger that you suspect was built in East Germany. Recently [...]