Investors are Ka-shing in on Northumbrian August 2, 2011 OCTOGENARIAN tycoon Li Ka-shing has agreed to buy Northumbrian Water for £2.4bn – the biggest takeover of a UK-listed company this year. CKI, the investment consortium fronted by Li, has agreed to pay 465p a share – up from just 295p in January – as well as offering a final dividend, taking the total value [...]
Kraft in Indian tax evasion probe over its takeover of Cadbury January 3, 2011 FOOD giant Kraft could face tax evasion charges over its takeover of Cadbury India. The Indian Finance Ministry has ordered an eight-week probe into the takeover, which was part of Kraft’s $19.6bn acquisition of Cadbury in February last year. The US firm will be desperate to avoid a protracted legal battle like the one that [...]
Kraft in Indian tax evasion probe over its takeover of Cadbury January 3, 2011 FOOD giant Kraft could face tax evasion charges over its takeover of Cadbury India. The Indian Finance Ministry has ordered an eight-week probe into the takeover, which was part of Kraft’s $19.6bn acquisition of Cadbury in February last year. The US firm will be desperate to avoid a protracted legal battle like the one that [...]
Cadbury may be next target for protesters December 5, 2010 CADBURY could be the next firm to be hit by organised groups of protesters after it relocated part of its operations to Switzerland for tax reasons. The move comes as Topshop boss Sir Philip Green was left counting the cost of closing his flagship Oxford Street store on Saturday afternoon after a protest over his [...]
Cadbury asks for police advice over protesters December 7, 2010 CADBURY owner Kraft has asked for police advice to protect its factories from protesters after City A.M. revealed it may be targeted for moving parts of its business offshore. Kraft says parts of Cadbury will still be registered in the UK but that the ownership of most of the firm would move into line with [...]
Dixons hit by £224m loss as FD jumps ship June 23, 2011 DIXONS reported a £224m loss yesterday due to tough trading, as its finance chief jumped ship. The electricals retailer said its turnaround plan, which includes £50m savings a year, was on track but that the economic downturn was lasting longer than expected. It also revealed that finance director Nicholas Cadbury would be leaving the firm [...]
New rules on foreign profit could anger EU June 30, 2011 PLANS to overhaul the way the foreign profits of UK headquartered multinational companies are taxed could fall foul of European law, according to a top legal firm. The existing Controlled Foreign Companies (CFC) regime currently breaks EU law, following a landmark 2006 case involving Cadbury Schweppes. At that time, the European Commission said the British government [...]
CITY MOVES | WHO’S SWITCHING JOBS July 14, 2011 Towry The wealth adviser has appointed Gerald Corbett as a non-executive director, adding to his chairmanships of Britvic and Moneysupermarket.com and his non-executive directorship of Numis Securities. Corbett’s previous non-exec roles include Greencore Group, Burmah Castrol and MEPC; he is also a former chairman of SSL International and the Woolworth Group. During his executive career, [...]
CITY MOVES | WHO’S SWITCHING JOBS July 14, 2011 Towry The wealth adviser has appointed Gerald Corbett as a non-executive director, adding to his chairmanships of Britvic and Moneysupermarket.com and his non-executive directorship of Numis Securities. Corbett’s previous non-exec roles include Greencore Group, Burmah Castrol and MEPC; he is also a former chairman of SSL International and the Woolworth Group. During his executive career, [...]
Greene King beats Fullers to seal deal for Capital Pub Co July 19, 2011 GREENE King is to buy the Capital Pub Company, beating rival Fuller, Smith and Turner to take over the business. The Capital Pub Company, which has 34 pubs, has accepted the £70m cash offer which trumped Fullers’ £54m takeover approach last month. The chain, which specialises in revamping pubs in affluent London areas, rejected Fullers’ [...]