UK wind fund blows onto LSE in £205m float February 6, 2013 INFRASTRUCTURE fund Greencoat UK Wind is hoping to raise at least £205m through a government-backed float that will jettison it to the main London market. Managed by Greencoat Capital, the fund has bought interests in six wind farms from utility firms SSE and RWE. Closed-end investment company Greencoat, which will be fully invested from launch, [...]
Deals are back February 5, 2013 ■ Computer maker Dell taken private in largest leveraged buyout since before the financial crisis ■ US billionaire John Malone closes in on $20bn deal for UK telecoms giant Virgin Media TWO of the biggest buyout deals since the financial crisis struck were revealed yesterday, as British communications firm Virgin Media and US computer giant [...]
Banks that stand to gain from pair of blockbuster tech deals February 5, 2013 BANKS working on Dell and Virgin Media’s multi-billion dollar deals are set for welcome advisory fees after a dearth of M&A activity in recent years, although one name in particular was conspicuous by its absence yesterday. Morgan Stanley had been a long-time adviser to Dell, having worked on many of the PC manufacturers biggest deals, [...]
Stocks dip on Fed decision to keep easing January 30, 2013 U S stocks edged lower yesterday after the Federal Reserve left in place its bond-buying stimulus plan, saying economic growth had stalled but indicating the pullback was likely temporary. Describing the US job market as continuing its modest pace of improvement, the Fed repeated a pledge to keep purchasing securities until employment improves substantially. The [...]
City Moves for 30 January 2013 | Who’s switching jobs January 29, 2013 Pinsent Masons Michael Isaacs has been appointed partner in the law firm’s financial sector disputes practice. He is a banking litigation specialist, and joins from Addleshaw Goddard. Issacs has over 20 years’ experience in the sector. Mizuho International The London-based securities and investment banking arm of Mizuho Financial Group has appointed Antony Slotboom as head [...]
Minera launches £20m share placing for Peruvian gold mine January 28, 2013 LATIN American miner Minera is hoping to raise up to C$32m (£20m) in a share placing for the development of its Ollachea gold project in Peru, it announced yesterday. The offering will be marketed in Canada, the UK, the US and in certain jurisdictions in South America on a private placement basis. The Ollachea project [...]
Sale of UK air traffic attracts interest from 3i January 27, 2013 LISTED private equity firm 3i has entered the fray to snap up a minority stake in the UK’s air traffic control agency amid an ownership shake up at the air controller, it emerged yesterday. 3i, led by chief executive Simon Borrows, is understood to have registered its interest in bidding for a 12 per cent [...]
City Moves for 25 January 2013 | Who’s switching jobs January 24, 2013 Vestra Wealth Management Heinz Schmid has been appointed fixed income strategist in the wealth management firm’s investment team. He joins from Investec, and was previously head of UK fixed income at BNP Paribas. Schmid has also managed HSBC Investment Management’s sterling fixed income team, and held a number of roles at UBS. Centrus Advisors Geoff [...]
CFA charter has won converts beyond investment analysis January 23, 2013 THE Chartered Financial Analyst (CFA) charter is widely considered to be the professional credential of choice for the investment industry. Its course is designed to provide the full breadth of knowledge necessary to understand all the major investment products, alongside instruction in financial reporting, corporate governance and economics. All this is underpinned by a grounding [...]
FTSE hits the brakes on 2013 rally as banks and miners lose ground January 22, 2013 BRITAIN’S leading share index eased a touch yesterday, stalling after a recent push up to its highest level in four-and-a-half years, weighed by falls in financials and mining stocks. Banks were the biggest sector fallers, knocking over four points off the FTSE 100, with traders citing profit-taking after recent gains, and caution over a report [...]