ROTHSCHILD COURTS OLIGARCHS UNDER £1M MONTENEGRO SKIES July 10, 2011 BIG BUSINESS came to Montenegro this weekend, lured by the £1m fortieth birthday celebrations for Nat Rothschild, the billionaire scion of the Rothschild banking dynasty. Peter Mandelson, Russian investor Oleg Deripaska and Chelsea owner Roman Abramovich were among the 300 oligarchs and mining magnates who flew to “the St Tropez of the Adriatic” for the [...]
Algeria mulls offer for BP assets December 19, 2010 ALGERIA is considering snapping up assets oil giant BP wants to sell in the country, before it allows another firm to buy them. Russian oil company TNK-BP wants to buy BP’s assets in Algeria, which include stakes in two major gas-producing fields, but Algerian state energy firm Sonatrach has the right of first refusal. BP’s [...]
States no longer monopolise citizens February 17, 2011 In a modern, global and open world, states have to compete for people. Weirdly, that is something that a large number of commentators have failed to recognise; they continue to argue as if Britain remained stuck in a pre-globalised world. They assume implicitly that governments remain quasi-monopolies, as was the case throughout most of human [...]
BP faces share swap deadline May 15, 2011 BP will struggle to meet a deadline to complete its £9bn share swap with Russian group Rosneft, leaving the companies to agree a second extension or allow the deal to fall apart. BP Chief Executive Bob Dudley, who has been criticised by investors for the difficulties encountered in executing the deal, said he was optimistic [...]
Brazil allows BP purchase May 11, 2011 BRAZIL’S energy regulator ANP said yesterday it has approved BP’s purchase of assets from US-based Devon, a deal that was slowed by its massive Gulf of Mexico oil spill. The approval comes after BP sold assets around the world to help pay for the effects of the oil spill at the Macondo well, which delayed [...]
Towergate in £200m injection January 31, 2011 ADVENT International has agreed to invest £200m in insurance intermediary Towergate Partnership. Advent, a global private equity firm, will acquire separate shareholdings in both Towergate and Cullum Capital Ventures as part of the deal. The deal, conditional upon Towergate raising new debt facilities through the bank and bond markets, is expected to be completed in [...]
LAWYER OF THE YEAR | June 26, 2011 FROM up-and-coming dealmakers to City stalwarts, our shortlisted lawyers represent the vast pool of legal talent that London has to offer both domestic companies and those from further afield. Our diverse list may appear difficult to compare at first glance, but with their combined talents they represent a group of people who’ve made the most [...]
BEST OF THE BROKERS May 19, 2011 ICAP Goldman Sachs rates the inter-dealer broker “buy” with a 12-month target price of 640p. Goldman thinks ICAP is well-placed to benefit from the structural flux of the over-the-counter markets and was reassured by results on Wednesday. KINGFISHER UBS rates the retail group “buy” and has raised its target price from 285p to 310p ahead [...]
BEST OF THE BROKERS May 19, 2011 ICAP Goldman Sachs rates the inter-dealer broker “buy” with a 12-month target price of 640p. Goldman thinks ICAP is well-placed to benefit from the structural flux of the over-the-counter markets and was reassured by results on Wednesday. KINGFISHER UBS rates the retail group “buy” and has raised its target price from 285p to 310p ahead [...]
Statoil to sell £2bn stake in gas pipeline June 6, 2011 NORWEGIAN energy giant Statoil has agreed to sell a 24.1 per cent stake in a key European natural gas transport venture to a group including German insurer Allianz and the Abu Dhabi Investment Authority for 17.35bn crowns (£2bn). Statoil will retain a five per cent stake in Gassled, the owner of gas pipelines on the [...]