Citigroup puts Egg up for sale August 3, 2010 CITIGROUP is gearing up to sell British internet banking firm Egg, kicking off a bumper period for asset sales as banking giants across the world move to slim down. Citi Holdings, home to the bank’s non-core operations, is believed to have plans in place for an auction to sell Egg in the next month for [...]
Banks lead the way as resurgent FTSE gives bulls a glimpse of higher plains July 26, 2010 BRITAIN’S top share index hit its highest close in 10 weeks yesterday, led by banks after European stress tests passed without major incident, and as strong economic data from the US boosted investor confidence. The FTSE 100 index ended up 0.7 per cent, or 38.50 points, at 5,351.12, its highest closing level since 13 May. [...]
Market calm on bank tests July 26, 2010 EUROPEAN lenders’ credit default swap (CDS) spreads narrowed and the euro was steady yesterday as the market gave a mild thumbs-up to the region’s bank stress test results. The cost of insuring against default on debt issued by key banks fell after the Committee of European Banking Supervisors (CEBS) said just seven of 91 institutions [...]
Coller sweeps up Lloyds unit in £480m deal July 5, 2010 BUYOUT house Coller Capital plans to inject £100m fresh capital into Lloyds Banking Group’s private equity portfolio after buying a controlling share in the assets, valuing them at £480m. Coller yesterday paid £332m in cash for a 70 per cent share in Lloyds’ Integrated Finance unit, which comprises equity and debt stakes in 40 companies. [...]
Coller sweeps up Lloyds unit in £480m deal July 5, 2010 BUYOUT house Coller Capital plans to inject £100m fresh capital into Lloyds Banking Group’s private equity portfolio after buying a controlling share in the assets, valuing them at £480m. Coller yesterday paid £332m in cash for a 70 per cent share in Lloyds’ Integrated Finance unit, which comprises equity and debt stakes in 40 companies. [...]
Farnborough show business hits $37bn July 21, 2010 MORE THAN $37bn (£24bn) in business has been agreed during the first three days of the Farnborough trade show with military spending news overshadowed by a raft of commercial aviation deals. Organisers of the show said yesterday that $37.5bn in new deals had already been signed by the midweek point. “We’ve seen buoyant activity in [...]
What the other papers say this morning January 10, 2011 FINANCIAL TIMES BUY-OUT GROUP GAINS CONTROL OF MADEJSKI’S LARGEST PROJECT Sir John Madejski, the property and publishing tycoon, has sold control over one of Britain’s largest commercial developments to a private equity consortium in the latest debt-driven property transaction. Benson Elliot, the private equity real estate firm, has teamed up with UK developer Stanhope to [...]
Buyers pull their weight in Liverpool tug-of-war August 4, 2010 THE battle to take over the keys of Liverpool FC was thrown into confusion last night after a contrasting day of counter claims and denials from potential buyers. Chinese businessman Kenny Huang began the day in pole position after admitting on Monday he had been locked in talks with the club’s major creditors, Royal Bank [...]
RBS plans to take first steps towards privatisation in 2011 July 4, 2010 ROYAL Bank of Scotland aims to put the conditions in place for the government to start selling its 83 per cent stake in the bank next year, chief executive Stephen Hester revealed at the weekend. Hester told German newspaper Welt am Sonntag that the sale “will not be conducted in one go”. But he added: [...]
RBS plans to take first steps towards privatisation in 2011 July 4, 2010 ROYAL Bank of Scotland aims to put the conditions in place for the government to start selling its 83 per cent stake in the bank next year, chief executive Stephen Hester revealed at the weekend. Hester told German newspaper Welt am Sonntag that the sale “will not be conducted in one go”. But he added: [...]