Challenger banks face an uphill battle as George Osborne widens levy net July 15, 2015 The heads of the UK’s fast-growing crop of challenger banks were entitled to reach for a stiff lunchtime drink as they absorbed the first Conservative Budget for two decades last week. At a stroke, George Osborne’s decision to impose a super-tax on industry profits above £25m undermined everything he has said about broadening competition [...]
TDR Capital wants a slice of PizzaExpress amid Chinese takeaway interest July 3, 2014 British private equity firm TDR Capital was yesterday said to have launched a secret bid to buy back PizzaExpress, in which it owned a stake in between 2003 and 2007, amid takeover interest from China. Sky News reported that TDR Capital was one of a number of parties which this week tabled offers to buy the [...]
Chinese Hony Capital eats up Pizza Express July 14, 2014 PIZZA Express became the latest UK brand to be snapped up by a Chinese buyer after it was announced that the restaurant chain would be sold to Chinese private equity firm Hony Capital for around £900m. The sale of Pizza Express is part of a recent trend that has seen Chinese buyers take ownership of [...]
David Lloyd sold to private equity fund September 5, 2013 HEALTH and fitness club David Lloyd Leisure (DLL) yesterday outlined an ambitious £50m expansion plan after being sold to UK private equity firm TDR Capital for just under £750m. The business, founded by former tennis ace David Lloyd over 30 years ago, said it has over 20 new centres in the pipeline across the country [...]
Stonegate buys The Living Room August 13, 2013 Stonegate, Britain’s largest private managed pub group, swallowed up the Living Room brand from Premium Bars & Restaurants on Monday for around £10m. Stonegate was created in 2010 when its private equity owner TDR Capital bought 330 managed pubs from Mitchells & Butlers. In 2011 it merged with Town & City Pub Company and now [...]
Phoenix rises again after £250m share issue January 30, 2013 LIFE insurer Phoenix yesterday unveiled plans to raise £250m in a share issue, enabling it to pay down some of its £2.4bn debt pile and raising the prospect of a return to the acquisition market. Chief executive Clive Bannister said the deal – first disclosed in yesterday’s City A.M. – transforms Phoenix by removing the [...]
Who’s switching jobs September 12, 2012 Axa UK Yves Masson has been appointed to the position of chief executive of personal direct and partnerships at the UK division of the insurance and asset management group. He has worked at Axa since 1985, and was most recently chief executive of Axa Direct Assurance. Masson has also previously served as chief executive of [...]
Who’s switching jobs September 12, 2012 Axa UK Yves Masson has been appointed to the position of chief executive of personal direct and partnerships at the UK division of the insurance and asset management group. He has worked at Axa since 1985, and was most recently chief executive of Axa Direct Assurance. Masson has also previously served as chief executive of [...]
Mitchells & Butlers turns down new bid September 13, 2011 MITCHELLS & Butlers shareholder Standard Life Investments yesterday branded Piedmont’s 230p per share possible offer “insulting” and accused it of destabilising the company, as the firm rejected the approach. David Cummings, SLI’s head of UK equities, lashed out at Piedmont owner Joe Lewis, claiming his attempt to buy the pub group outright was “wholly unsatisfactory”. [...]
M&B to offload pubs for £373m August 20, 2010 Pubs and restaurants group Mitchells & Butlers (M&B) has announced plans to sell 333 pubs as it concentrates on its premises offering food. The pubs are being sold to Stonegate Pub Company – which is controlled by TDR Capital – for £373m. Earlier this month, M&B announced the sale of its Hollywood Bowl 10-pin bowling [...]